Glazer counts cost of failed Utd boardroom coup

US tycoon Malcolm Glazer is today counting the cost of a failed boardroom coup at Manchester United that left his bid to buy the club in tatters.

Bankers withdrew their support for the billionaire sports mogul’s takeover after he ousted three directors from the board.

The 78-year-old was thought to have gone against the advice of backers JP Morgan and Brunswick PR by using his 28% stake to plunge the club into civil war.

An €1.1bn proposal to gain control at Old Trafford now appears to be in tatters after both firms quit following the dramatic events at yesterday’s annual general meeting.

The collapse of the bid will come as a relief to many fans who vigorously opposed Glazer, even burning his effigy during a recent home game against Arsenal.

He approached United for takeover talks last month but was rejected because of the amount of borrowing he wanted to incur.

Glazer then demanded to be allowed to view confidential information about the club to launch a hostile bid.

But he was refused and he took revenge by using his financial muscle to vote long-serving legal adviser Maurice Watkins and two other directors off the board by 74.3 million votes to 34.9 million.

New commercial director Andy Anson and non-executive director Philip Yea were also blocked by Glazer’s representative at the AGM.

In a statement to the Stock Exchange the club confirmed the three directors were no longer members of the board following the shareholders’ vote.

It said: “This was principally a result of the Glazer Family Partnership voting against the resolutions.

“Had the Glazer family abstained or voted in favour of these resolutions they would all have been passed.

“The board is very disappointed with this outcome as we do not believe it is in the best interest of the company.”

More than 1,000 shareholders attended the meeting with many of them expressing their opposition to Glazer’s intentions to buy the club.

Following the American’s move today Shareholders United spokesman Oliver Houston said: “This underlines the case against Malcolm Glazer.

“Apart from the supporters, the board and John Magnier and JP McManus, even his own bankers and spin machine are against him now.

“He has few friends or options but like a wild animal, Glazer is often most dangerous when he is cornered. We must make sure he is put down once and for all.”