McManus, Sadlier buy United shares

Irish racehorse owners JP McManus and John Magnier have increased their stake in Manchester United to 23.15% after buying BSkyB’s shares.

Irish racehorse owners JP McManus and John Magnier now own almost a quarter of Manchester United’s shares after buying BSkyB’s stake in the club today.

The Cubic Expression Company – owned by the pair – were today confirmed as the buyers for Sky’s 9.9% stake, paying over £62m (€88.2m) to increase their holding in the Barclaycard Premiership champions to 23.15%.

A United statement to the Stock Exchange read: “Manchester United has now been advised that the Cubic Expression Company Limited has, as at October 7 2003, a holding of 60,144,730 ordinary shares representing approximately 23.15% of the issued share capital of Manchester United.”

The announcement will only add to speculation that United are being lined up for a takeover.