Sen.Blutarsky 0 #1 May 16, 2005 It's much ado about nothing, I say. Judged by their actions, MUFC fans and community seem to agree! MAN UTD PROTESTORS FAIL TO SHOW Despite three arrests and the unfurling of a black banner saying 'RIP Man United', most fans at the away tie with Southampton were good humoured. The clash came a day before Mr Glazer is set to gain the extra United shares he needs for a full takeover. The Tampa Bay Buccaneers owner has 74.81% of United shares but needs 75%. Mr Glazer is expected to buy the final shares to complete his takeover of the British club on Monday. Three US hedge funds supported Mr Glazer's bid by buying shares on his behalf, the Sunday Times reported. Manchester United fans are threatening to boycott the football club's sponsors, which include Vodafone, if their club changes hands on Monday. Campaign group Shareholders United has urged supporters to stop buying club merchandise and the products of sponsors, such as Vodafone, Nike, Anheuser-Busch and Audi. "We want to split the club from the brand," Sean Bones, a vice-chairman of Shareholders United said. "We feel Malcolm Glazer has bought the brand, but not the club." Shareholders United, which says its membership has increased to 30,000 from 20,000 in the last few days, is planning demonstrations at the FA Cup Final. Debt fears Supporters say the club will be saddled with huge debts as Mr Glazer plans to borrow £265m, set against the club's assets, to help fund the takeover. He will raise another £275m by issuing securities, but this debt will not be held against the club's assets, and £272m of his own cash, in the form of United equity already owned by him. Mr Bones, of Shareholders United, said the planned boycott of merchandise was an attempt to devalue the brand and hit future profits. Supporters already own an estimated 18% of the club and have tried to secure financial backing from Japanese bank Nomura to buy more shares to block his attempt to delist the club. Mr Bones said: "What we have to do is affect revenue streams. We need to stop people buying merchandise or anything related to the sponsorship of the club." 'Thick-skinned' He said the American was "a thick-skinned guy to try and take over a club where 93% of the customers, the supporters of the club, are against him". Mr Glazer's son Joel is expected to take an active role in running the club and claims his family are "avid" Manchester United fans. He said: "Our intention is to work with the current management, players and fans. We are long-term sports investors and avid Manchester United fans." Former Tottenham owner Sir Alan Sugar said he felt Mr Glazer had paid a "very, very full price" for United. "I can't see from my point of view why it is such a good business deal," he said. The entrepreneur told BBC Radio Four's Today programme: " I am enthralled, I'm intrigued. I want to see where I am missing the point, because at the moment I am missing the point." Mr Glazer has already bought the 28.7% stake of Irish racing tycoons JP McManus and John Magnier. Once he has raised 75% or more, he can rewrite the company's articles - effectively giving him carte blanche to run the company as he wants. If he can get 90% of the stock, he can make a compulsory purchase and scoop up the other 10% of the club's shares. Story from BBC NEWS: http://news.bbc.co.uk/go/pr/fr/-/2/hi/business/4546491.stm Published: 2005/05/15 17:58:43 GMT © BBC MMV Blutarsky 2008. No Prisoners! Quote Share this post Link to post Share on other sites
Skyrad 0 #2 May 16, 2005 I think its great! Man U is a business, he is a businessman whats the big deal? He wouldn't have bought it if he didn't think he could make a profit out of it. (Unless he intends to just sell off all the assets, which really would be funny!)When an author is too meticulous about his style, you may presume that his mind is frivolous and his content flimsy. Lucius Annaeus Seneca Quote Share this post Link to post Share on other sites
dropoutdave 0 #3 May 16, 2005 Not being a football fan I don't really give a toss about what happens to them but as I hear it the fans aren't turning up to protest because the deal has been done and there is nothing they can do about it. They can protest as much as they like, it aint going to make any difference. ------------------------------------------------------ May Contain Nut traces...... Quote Share this post Link to post Share on other sites
