Glazer gets to 97.3%

[Northwood_DK]

bbc sport

US tycoon Malcolm Glazer has announced that he now owns 97.3% of shares in Manchester United, but is still short of gaining complete control.

Mr Glazer has also extended the deadline for shareholders to sell remaining shares to him for £3 each.

He had said he would extend his offer if he did not get 97.6% of shares - the point at which he can forcibly buy the remaining stock - by Monday, 13 June.

Shareholders now have until 1500 BST on 27 June to decide whether to sell.

In London on Tuesday morning Manchester United shares were being traded at 309 pence. Mr Glazer plans to eventually delist the club's shares from the London Stock Market.

Fighting on

Most of the remaining shares are in the hands of loyal Man United fans who have promised to fight the US tycoon to the end.

The Glazers need to get their hands on a total of 258,110,791 shares to force remaining shareholders to sell to them, and are currently short by 204,504 shares.

Pressure group Shareholders United (SU) has been threatening to "make life difficult" for the Glazers.

"We want to show him we are not going to roll over and die," said SU's Nick Towle on Monday before the first deadline to sell passed.

Supporters are worried at the amount of borrowing involved in the deal.

Malcolm Glazer plans to increase Man United's revenues by lifting ticket prices by more than 50% over four years, fuelling further outrage from fans.

He has pledged to generate more cash from sponsorship deals and to cap player transfer spending at £25m a year.

Majority shareholder

The Glazers' first offer to buy out the remaining minority shareholders closed at 1500 BST on Monday.

In a statement to the London Stock Exchange on Tuesday, Mr Glazer said his bid vehicle Red Football now owned 257,906,287 of Man United's shares.

Red Football said shareholders who wish to accept the offer should return shares "as soon as possible and, in any event, by no later than 1500 on 27 June".

The US billionaire, who owns NFL franchise Tampa Bay Buccaneers, became majority shareholder of the club on 16 May in a £790m takeover.

Red Football hopes to take the club off the stock market by 22 June, after 14 years of the club being listed in London.

[kcchief19]

Despite my lack of interest in soccer, I have a casual interest in how this develops. If Glazer is successful in getting full control on Man U, it will be just the beginning. The Hunt family that owns three teams in the MLS is also interested in buying a club and these two together will turn the business on its ear.

What is the perception of the "business" of soccer/football in Europre, and obviously in this case England specificially? The perception from many here in the states is that the club owners are leaving a lot of money on the table and that more money can be had by raising ticket prices and aggressively selling broadcast rights fees. If Glazer and Hunt do get control of teams, their primary motivation will be maximizing profit, not necessarily making a small profit and winning. If you can make more money being a .500 team and ocassionally competiting for a title and making a ton of money, that is considered more successful than competiting for a title every year and making a small bit of money.

[QuikSand]

Most of the remaining shares are in the hands of loyal Man United fans who have promised to fight the US tycoon to the end.

I haven't followed this too closely, but isn't this what we were hearing a few weeks ago when there were 15 or 20% of shares outside his control? Seems that for some of these shareholders, "to the end" came a little quicker than one might have thought.

[Alf]

Only a few clubs (big ones) are on the stock market. FWIW, no the French club is on the stock market (also note, than none of them is a big club :) )

But I am also interested in what comes out.

[MacroGuru]

A lot of people should be watching this...it has the potential to turn the soccer world on it's ear.

The way U.S. sports are conducted as a business and profit is #1, if some of the current owners in soccer see a value of selling to the U.S. or other interest (Read....make a shitload of money) then they might sell, it might even force a few of the clubs to hit the market as well, and drum up additional revenue and throw themselves up to be acquired through hostile means....

[QuikSand]

A lot of people should be watching this...it has the potential to turn the soccer world on it's ear.

The way U.S. sports are conducted as a business and profit is #1, if some of the current owners in soccer see a value of selling to the U.S. or other interest (Read....make a shitload of money) then they might sell, it might even force a few of the clubs to hit the market as well, and drum up additional revenue and throw themselves up to be acquired through hostile means....

I'm not a deep fan of football/soccer, so I need some elucidation here.

Why would this turn the soccer world on its ear? Would privately owned European clubs with American business owners behave differently? Would they be more likely to sign top money players? Less likely? Or os the issue somewhere else, other than their effor to compete for top honors?

[CHEMICAL SOLDIER]

Despite my lack of interest in soccer, I have a casual interest in how this develops. If Glazer is successful in getting full control on Man U, it will be just the beginning. The Hunt family that owns three teams in the MLS is also interested in buying a club and these two together will turn the business on its ear.

What is the perception of the "business" of soccer/football in Europre, and obviously in this case England specificially? The perception from many here in the states is that the club owners are leaving a lot of money on the table and that more money can be had by raising ticket prices and aggressively selling broadcast rights fees. If Glazer and Hunt do get control of teams, their primary motivation will be maximizing profit, not necessarily making a small profit and winning. If you can make more money being a .500 team and ocassionally competiting for a title and making a ton of money, that is considered more successful than competiting for a title every year and making a small bit of money.

Welcome to the American way of sports Europe. :D

[MacroGuru]

I'm not a deep fan of football/soccer, so I need some elucidation here.

Why would this turn the soccer world on its ear? Would privately owned European clubs with American business owners behave differently? Would they be more likely to sign top money players? Less likely? Or os the issue somewhere else, other than their effor to compete for top honors?
Several factors....and the number one goal is profitability....don't get me wrong, a lot of clubs run for profit, but they are not going to streamline it if they have the chance at winning a championship.

Where a lot of U.S. and foreign interest is starting to base itself on is the fact that there is money on the table. (How much are NFL tickets, NBA tickets compared to what is being paid in the Soccer world)

There has also been talk of not signing big money players for what they think because it doesn't streamline the profits of the organization...

So think of a .500 team with somewhat decent players and once in a blue moon getting a chance at a championship (ala Tampa Bay Bucs) and you have what this has the potential to become.

[Galaxy]

Despite my lack of interest in soccer, I have a casual interest in how this develops. If Glazer is successful in getting full control on Man U, it will be just the beginning. The Hunt family that owns three teams in the MLS is also interested in buying a club and these two together will turn the business on its ear.

What is the perception of the "business" of soccer/football in Europre, and obviously in this case England specificially? The perception from many here in the states is that the club owners are leaving a lot of money on the table and that more money can be had by raising ticket prices and aggressively selling broadcast rights fees. If Glazer and Hunt do get control of teams, their primary motivation will be maximizing profit, not necessarily making a small profit and winning. If you can make more money being a .500 team and ocassionally competiting for a title and making a ton of money, that is considered more successful than competiting for a title every year and making a small bit of money.
Is Hunt looking at Europe? I think Hunt would alittle more "welcome" due to his ties and investment in soccer, and where Glazer really is quiet and never shown an interest in the game before.

[MrBug708]

It would be quite funny if Glazer turns Man U into the Clippers of Soccer

[MikeVic]

I'm not sure I'd like the profit-first change. I love seeing the same teams on top over and over again, with a surprise here or there. It gives you someone to cheer for or root against year after year.

[rkmsuf]

He should move them to the US.

[QuikSand]

He should move them to the US.

Dallas.

[QuikSand]

(How much are NFL tickets, NBA tickets compared to what is being paid in the Soccer world)

Once again, you've gotten too deep in the pool for me.

Is this a comment that soccer tickets bring in more revenue than those for Amercian football or basketball? Or the other way around?

[Hammer755]

Dallas.
I can see the Kodos dynasty already - Poop on Old Trafford: An FM Adventure.

[ISiddiqui]

I'm not a deep fan of football/soccer, so I need some elucidation here.

Why would this turn the soccer world on its ear? Would privately owned European clubs with American business owners behave differently? Would they be more likely to sign top money players? Less likely? Or os the issue somewhere else, other than their effor to compete for top honors?
In Europe, you don't go into soccer to make money. You go in to create a winning team at personal cost to yourself. A lot of owners lose money and they don't care because they care about success on the field mostly and the tradition and history of the club they own.

[MacroGuru]

Once again, you've gotten too deep in the pool for me.

Is this a comment that soccer tickets bring in more revenue than those for Amercian football or basketball? Or the other way around?
Other way around....

NFL and NBA tickets are quite expensive compared to Soccer pricing....