United Board Accepts Glazer Bid

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United board accepts Glazer bid

Malcolm Glazer's triumphant bid to buy the club has angered shareholders

The board of Manchester United is advising shareholders to accept the controversial takeover bid from US tycoon Malcolm Glazer.

Mr Glazer currently owns around 76.2% of Manchester United's shares and is offering 300p a share for the rest.

In a letter to shareholders, Man United Chairman, Sir Roy Gardner announced his impending resignation, along with that of non-execs Ian Much and Jim O'Neill.

Mr Glazer is expected to delist the club's shares by 30 June.

If he (Malcolm Glazer) is squeezed out in a few years we hope our fund will enable us to buy a large chunk of Manchester United

Oliver Houston, Shareholders United

Fans fight on as board sells up

Such a move would end United's 14-year presence on the London Stock Exchange.

In a statement, Man United's board said unless shareholders had "strong non-financial reasons" for holding onto shares, they should accept the offer.

The board indicated it planned to sell its own shares to Mr Glazer and encouraged other investors to do the same.

But Mr Gardner said Mr Glazer had failed to provide adequate guarantees over debt, ticket prices, player transfers and lack of interference with the selection of teams.

Foregone conclusion

With ownership of more than 75% of the club's shares, Mr Glazer is allowed offload his debt on to the club's books and take the club private.

United fans can put the squeeze on the parasitic Glazer

Oliver Houston, Shareholders United

See Man United's share price

Many of the club's fans, including small shareholders, have been vehemently opposed to the US takeover on the grounds that the deal is based too heavily on loans and will saddle the club in debt, resulting in higher ticket prices.

More than one-third of Mr Glazer's

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Is this the face of evil?

[monza gorilla 1]

Although I am not a football afficionado (I much prefer cricket), I have a sad feeling that this will end badly for the club. That amount of debt seems unsustainable.

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Although I am not a football afficionado (I much prefer cricket), I have a sad feeling that this will end badly for the club. That amount of debt seems unsustainable.

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It does indeed. Glazer doesn

[nojvnof1 0]

I wouldn't go that far, but I am dead against his takeover. The amount of debt is an utter disgrace and can only end in tears. This is going to end up 10 times worse than the Leeds United debacle. I don't think Glazer has even been to a Man Utd game!!

Glazer sees easy money by taking over United. He's gonna raise ticket and merchandise prices I feel, and will probably try to sell off naming rights of Old Trafford, something which makes me sick in the stomach. If it was a relatively new stadium like Arsenal's Ashburton Grove then I wouldn't really oppose it as the history is not there, but Old Trafford is something which should be untouchable. I hear he wants to build a casino near Old Trafford, it just gets better and better, not!