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Man. Utd takeover talks collapse
(sportsnetwork)
Updated: 2004-10-15 09:03
American businessman Malcolm Glazer might not be taking over at Manchester
United after all.
Glazer, the owner of the National Football League's Tampa Bay Buccaneers, was
in talks with Irish businessmen J.P. McManus and John Magnier about purchasing
the English soccer club. Reports, however, indicate that the takeover may never
take place after talks between the two sides broke down Thursday.
McManus and Magnier currently own 29 percent of the illustrious English
soccer club. Glazer has greatly increased his stake in Manchester United over
the past few years and now holds a 19 percent stake in the club.
The news of the collapse in talks surely will be greeted with a smile by many
United supporters. Several different fan groups have made their displeasure of
Glazer's interest known, stating publicly they will do whatever necessary to
deter the American from buying the club.
Glazer's takeover attempt began 10 days back when United confirmed an offer.
Although the club never specifically tabbed Glazer as the suitor, it was well
known that he was involved in the proposal. Speculation had his bid for
Manchester United somewhere in the range of over $1 billion.
"The approach contains a number of significant conditions," United explained
through a statement on October 4. "The Company is seeking clarification of this
proposal and at this stage it is unclear whether any offer will be made."
Manchester United is currently fourth in the Premiership table behind
Everton, free-spending Chelsea and defending champion Arsenal.
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