Manchester United fans reject takeover
(Agencies)
Updated: 2004-10-13 09:35

Manchester United's largest fan group is launching a registration drive to stop U.S. businessman Malcolm Glazer from buying the Premier League club.

Shareholders United, which controls about 2 percent of the club's shares, started enrolling fans Tuesday for free membership in the group's trust. The group's goal is to sign up 100,000 United fans worldwide.

Manchester United fans are hoping people power can help beat off an Old Trafford takeover bid from American billionaire Malcolm Glazer. [AFP]

Manchester United announced last week it received a "preliminary approach" for a takeover of the club. Although the club did not identify the bidder, it was widely reported to be Glazer — whose company owns a 19 percent share in the club and steadily has been increasing his share.

Shareholders United calls the initiative "Shares, Not Shirts." In exchange for free membership in the trust, registering fans promise not to buy United merchandise until the Tampa Bay Buccaneers owner backs off.

The group, which claims 15,000 members, said it is reaching out to the 250 Manchester United fan groups across the world to get supporters to register for the trust.

"The phone is ringing off the wall about this," vice chairman Sean Bones said. "We're only limited by the speed with which we can process the applications. You get the feeling something magical is happening."

American billionaire Malcolm Glazer. Manchester United, the world's wealthiest football club, confirmed it had received a "preliminary approach" regarding a possible takeover offer. [AFP]

Glazer holds the second-largest stake in the club behind Irish racehorse owners J.P. McManus and John Magnier. Their company owns about 29 percent. Glazer would have to buy the Irishmen's shares to gain control of a club valued at more than $1.25 billion.

Private shareholders and SU trust members hold about 18 percent of the club's shares.

Some fans contend Glazer is interested only in making a profit and would raise ticket prices.

"This battle is not about the number of shares that he (Glazer) can accumulate or we can accumulate," Bones said. "It's about the fans standing together and showing Glazer how unpopular he is with the fan base.

"Man Utd can be a profitable club in the future. But we don't want the profits to go straight into the pockets of Malcolm Glazer or anyone else. We want the profits to stay in the club."

The Glazer family has refused to comment on a possible bid for Manchester United.

Dissent against a possible Glazer takeover has been growing.

Last week, vandals threw red paint on cars owned by a prominent Manchester United director, Maurice Watkins, who sold 1 million shares to Glazer. About 30 fans disrupted a Manchester United reserve game to protest a possible buyout.

Another fan group, the Red Action Group, said it plans to demonstrate outside the London Stock Exchange on Friday.

Two Conservative legislators submitted a motion in Parliament that would keep Glazer from bidding for United unless he could "clearly demonstrate that he would strengthen rather than weaken the club."

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