HERE WE GO AGAIN

Last updated : 10 August 2004 By editor

American sports entrepreneur Malcolm Glazer was reported over the weekend to be preparing a bid to buy the 28.9% stake of the club owned by Irish racing moguls John Magnier and JP McManus.Glazer, the multi-millionaire owner of the Tampa Bay Buccaneers, is United's second largest shareholder with a 19.2% stake. Glazer would be forced to launch a full takeover bid if he was to buy enough of the holding of Cubic Expression, the investment vehicle of Magnier and McManus, to take him past the 30% mark.

IMUSA chairman Mark Longden

'We are a solvent football club and the finances are well kept,'

'If he takes over we are saddled with his debts and fans are very wary of someone who comes in with no interest in football and could make money by fleecing them.'

Longden added:

'Shareholders United are encouraging fans to buy shares. If they can get up to 10% plus one share there is enough people to block a takeover bid. We are dealing with this by political means. We have friends in political office and there are also other means of protest.'

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www.shareholdersunited.org