Tycoon could bid for Man Utd 'this week'

Billionaire US sports tycoon Malcolm Glazer could announce a bid for Manchester United as soon as this week if the club’s largest shareholders accept his terms, it was reported today.

According to The Sunday Telegraph, Mr Glazer has secured funding for a 300p per share takeover, which would value the club at £786m (E1,137m).

Executives close to the tycoon were quoted as saying the offer had been “indicated” to Irish shareholders John Magnier and JP McManus, although they added there was no rush to make a move.

It was also claimed that advisers to Glazer – owner of the Tampa Bay Buccaneers gridiron franchise – have been victim of an elaborate dirty tricks campaign by fans opposed to the prospect of a takeover.

It is understood that US bank JP Morgan and PR firm Brunswick have been bombarded with offensive e-mails. Militant fans were said to have arranged for taxis, plumbers and sandwich delivery men to appear at Brunswick’s London offices on Friday.

A fan also told The Sunday Telegraph that an advertisement offering cheap caravan holidays had been placed in a magazine listing Brunswick’s number. A spokesman for Brunswick declined to comment on the claims today, while nobody was available from JP Morgan.

The claims come nearly a week after Manchester United confirmed it had received a bid approach. Although it declined to name the potential bidder, it is widely believed to be Mr Glazer, who is the club’s second largest shareholder with a 19.2% stake.

Shareholders United, a group formed seven years ago to fight a proposed takeover by Rupert Murdoch, called last week for United fans to join together and defeat the new bid.

Today’s report claimed Cubic Expression, representing racing tycoons Magnier and McManus, said “no proposal” had been made.

Any takeover is likely to need the support of Cubic Expression as its stake is just short of the 30% mark that would trigger a full bid for the club.

Cubic’s stake-building sparked intense speculation about a bid from the Irish pair last year, although analysts have since said they may have taken strategic positions and will move when the time is right.