No fanfare as Man United delisted

MANCHESTER United’s 14-year reign on the London stock market ended without fanfare yesterday as US tycoon Malcolm Glazer had the soccer club de-listed.

Some of the formalities may still have to been gone through but with 97.3% of the stock under his control it no longer made sense for one of the most glamorous clubs in soccer history to stay a listed company.

No formal announcement had been made by yesterday evening, but public trading in United has ceased and any further sales will have to be completed on a private basis, agency reports said.

As the club’s tenure on the stock market drew to a close off the field activity away from the market continued to gather pace with news of an impending signing of Korean midfielder Park Ji-Sung within the week for a £5 million fee.

Reports in Britain suggest Man U boss Alex Ferguson is close to doing the deal with the Korean who impressed during the last World Cup in 2002.

Park was one of the outstanding performers during the event and fits Ferguson’s need to find an explosive midfielder to make up for Roy Keane’s declining powers.

Confirmation may not be received until today but the move is nothing more than an administrative process given that Mr Glazer’s 97.3% stake in the Old Trafford outfit already gives him total control.

The Tampa Bay Buccaneers owner is due to give an update on his precise shareholding next Monday, once the latest extension for current shareholders to sell him their stake has expired.

It is expected he will have added the extra 0.3% of shares which will allow him to launch a compulsory purchase of the remaining shares. Once that move has been concluded and the club moves out of its current offer period, the next big move will be to work on generating significantly higher profits.

Mr Glazer is demanding United raise ticket prices by 54% to help finance the takeover while British reports have claimed plans exist to boost United’s sales this year of £161.5m to £246m in 2010.

Three key areas are targeted in the move to higher profits. These included a 61% increase in matchday sales, a 13% rise in media sales, and a 76% increase in sales of merchandise and other commercial activities.

The average ticket price at Old Trafford is due to be increased from under £30 to £46 over the next five years.