United did not ask about possible takeover By Dan Sabbagh The Times December 02, 2003
David Gill, the new chief executive of Manchester United, was yesterday forced to admit that he did not ask Malcolm Glazer, the acquisitive shareholder, whether he was even considering a takeover bid for the English Premier League champions. In a meeting held during an American football game in Florida last week, Mr Glazer, a US billionaire, told Mr Gill that he viewed Britain�s best known football club only �as a good investment�. A few days later Mr Glazer raised his holding to 14.3 per cent. Yet Mr Glazer had not been pressed by United to reveal his long-term intentions at the meeting. Mr Gill, speaking as the club unveiled a four-year �36 million shirt sponsorship deal with the mobile phone group Vodafone, admitted: �It would have been inappropriate (to ask)�. The meeting was the first time club executives met Mr Glazer, who has been stakebuilding for several months. But it has left fans no clearer about the club�s long-term future. A spokesman for Shareholders United, a supporters group, said: �The prospect of a full takeover is a big worry. Every supporter needs to do what they can to defend the club. In the end it could come down to one share.� Fans want to build a 10 per cent stake in the club to prevent a buyer taking it private. Mr Glazer invited United executives to watch a match with his American football team, Tampa Bay Bucanneers, eight days ago. They were joined by Mr Glazer�s sons Joel and Harvey, who co-ordinate his sport investments. Mr Glazer is the second-largest shareholder in the club, behind the Irish investors J. P. McManus and John Magnier, who hold 23 per cent. The duo have previously been worried about his activities, but their stake is large enough that they do not need to increase it. Mr Magnier is separately locked in a legal battle with Sir Alex Ferguson, United�s manager, over stud fees from the racehorse Rock of Gibraltar. ------------------------ Yahoo! Groups Sponsor ---------------------~--> Buy Ink Cartridges or Refill Kits for your HP, Epson, Canon or Lexmark Printer at MyInks.com. Free s/h on orders $50 or more to the US & Canada. http://www.c1tracking.com/l.asp?cid=5511 http://us.click.yahoo.com/mOAaAA/3exGAA/qnsNAA/GtUolB/TM ---------------------------------------------------------------------~-> Please use [EMAIL PROTECTED] for general discussion. To unsubscribe send a blank message (from the email account in question) to: [EMAIL PROTECTED] Join as a full member of IMUSA today: http://www.imusa.org/join.htm Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
