GLAZER BACKERS TO PULL OUT

A fresh element of uncertainty has entered Malcolm Glazer's attempted takeover of Manchester United with the American tycoon's backers refusing to confirm whether they will support the bid if the club's board do not recommend shareholders accept his offer.

United's directors are understood to be sticking by their statement of February 11 when they said they were unlikely to be able to recommend the offer but would leave it to shareholders to decide.

That thrusts Irish duo John Magnier and JP McManus, the two biggest shareholders with just under 30% of the club, into the front line but despite speculation the Glazer family have yet to renew contact with them.

Talks between United and Glazer's advisers are still continuing and the American will also be waiting to see the reaction of JP Morgan, the investment bank supporting his bid, if the United board formally decide not to recommend his 300p a share offer. JP Morgan today refused to comment.

Glazer, whose family owns 28.8% of United, has already had two bids for the club rejected and his offer is around 10% more than the Stock Market share price.

RI’s latest info is that the rumoured Arab interest will eventually buy out Glazer, with Coolmore holding on to their stake. We shall see…