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Man. Utd takeover talks collapse
American businessman Malcolm Glazer might not be taking over at Manchester United after all. Glazer, the owner of the National Football League's Tampa Bay Buccaneers, was in talks with Irish businessmen J.P. McManus and John Magnier about purchasing the English soccer club. Reports, however, indicate that the takeover may never take place after talks between the two sides broke down Thursday. McManus and Magnier currently own 29 percent of the illustrious English soccer club. Glazer has greatly increased his stake in Manchester United over the past few years and now holds a 19 percent stake in the club. The news of the collapse in talks surely will be greeted with a smile by many United supporters. Several different fan groups have made their displeasure of Glazer's interest known, stating publicly they will do whatever necessary to deter the American from buying the club. Glazer's takeover attempt began 10 days back when United confirmed an offer. Although the club never specifically tabbed Glazer as the suitor, it was well known that he was involved in the proposal. Speculation had his bid for Manchester United somewhere in the range of over $1 billion. "The approach contains a number of significant conditions," United explained through a statement on October 4. "The Company is seeking clarification of this proposal and at this stage it is unclear whether any offer will be made." Manchester United is currently fourth in the Premiership table behind Everton, free-spending Chelsea and defending champion Arsenal. |
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