Glazer attempts to woo United fans

Sports tycoon Malcolm Glazer has reached out to Manchester United’s fans and investors in a bid to win their support for his £790m (€1,149.6m) takeover of the club.

Mr Glazer’s bid vehicle, Red Football, yesterday tabled a formal offer document aimed at gaining the remaining shares he does not already own.

He said he would ask the senior management team to remain with the club and wanted to ensure Manchester United’s “significant success” would continue.

“The Glazer family are keen supporters of Manchester United and long-term owners of Manchester United shares,” Red Football said.

It added: “Red wants to work with current management, players and supporters to ensure that the significant success enjoyed by Manchester United, both on and off the pitch, continue.”

Mr Glazer, who currently owns about 76.2% of shares in the club, gave shareholders a deadline of June 13 to sell their holdings.

Attention will now focus on whether the American businessman can boost his holding to 90%, which would allow him to buy the rest of the shares on a compulsory basis.

Anything below 90% and existing shareholders would be entitled to remain as minority owners, but with next to no rights over the company.

United fans have protested angrily at Mr Glazer’s takeover, which they believe will saddle the club with too much debt.

It had been reported at the weekend that Mr Glazer’s son Joel would try to win over fans by publishing an “open letter” in yesterday’s offer document, but no letter was included.

It has already been established that Joel will take charge of the Glazer family interest in United.

The United board has 14 days to respond to the proposals, but as Mr Glazer effectively controls the club, it seems inevitable that United chief executive avid Gill will recommend the offer to shareholders.