Fans see red as Irish tycoons up United stake

THE brinkmanship engaged in between the Coolmore Mafia and Alex Ferguson continued last night with the world’s richest club, Manchester United, and racing’s blue riband, the Cheltenham Gold Cup caught in the cross hairs.

John Magnier and JP McManus are expected to request board representation at Manchester United after edging closer to overall control of the club yesterday.

They want to pile the pressure on Ferguson to back off in his legal claim to 50% of the stud earnings of champion stallion Rock of Gibraltar, valued at €100 million.

Cubic Expression, the investment vehicle owned by Magnier and McManus, yesterday increased its United shareholding from 25.49% to 28.89% at a cost of €30 million.

Given the size of their stake Cubic could demand two, or possibly three seats on the board, which would give them a major role in the club's operations, much to the frustration of United fans.

Under stock exchange rules, if they increase their stake to 29.9%, they will have to mount a formal offer for the entire club, a move that could cost them €723 million.

Yesterday, another group of Manchester United fans opposed to the Irish pair said they may stage a protest by 250 people on Gold Cup day at the Cheltenham festival.

United 4 Action founder Sean Murphy said: “We want to get the message across to John

Magnier and JP McManus: give the club back to the fans, because we don't want them.”

Cheltenham racecourse officials are considering the ramifications.

“We are trying to get our heads around how a private dispute should threaten the enjoyment of 60,000 people on what is our big day, and trying to understand the connection is still quite baffling,” said managing director Edward Gillespie.