Glazer raises Reds stake to almost 20%

US SPORTS tycoon Malcolm Glazer has raised his stake in Manchester United to 19.17% in a move likely to reignite speculation of a takeover bid for the world’s richest soccer club.

Mr Glazer, who owns American football’s Tampa Bay Buccaneers, said yesterday he had bought a further 2.41 million shares in the English club, taking his holding to 50.27 million shares.

Mr Glazer said in March he had no plans to launch a bid for Manchester United, though a source said at that time he could still make an offer in the future. Manchester United, third in England’s premier league in the 2003/04 season, has been the subject of persistent bid speculation as its two biggest shareholders have built up their stake in recent months. Irish racehorse owners John Magnier and JP McManus own 28.9%, although sources close to them say they are long-term investors rather than potential bidders.

A profitable, debt-free business with one of the best-known global brands in sport, Manchester United is prized by investors for its marketing potential. But the 125-year-old club’s fans are wary of a takeover, which they fear could reduce the little influence they have.

One source said Mr Glazer would take his stake over 20% before approaching Mr McManus and Mr Magnier about a possible deal, which would give him about 50% of Manchester United shares in one fell swoop.

Analysts have said a winning bid for Manchester United could have to reach 350p (€5.22) per share, which would value the club at about £928m (€1,385m). Shares in the club were steady at 246p, for a market value of £645m (€963m).