Giggs recognises fans fears

MALCOLM GLAZER could try to rip up the Premier League’s collective bargaining agreement if he succeeds in his attempt to takeover Manchester United.

The Old Trafford club are currently studying ‘definitive proposals’ from the 76-year-old American which could lead to a formal bid.

After already having two approaches rebuffed, Glazer’s third move confirms his determination to seize control at United in the belief he is capable of generating even greater profits than the record sums the Red Devils currently make.

But, with income from UK markets reaching its peak, a leading soccer finance expert reckons the only way he can achieve this is by targeting the Far East and United States, with particular emphasis on pay-TV.

“I would imagine Manchester United has more or less reached its full potential within the UK market,” said Joe McLean, football specialist at accountancy giants Grant Thornton.

“Obviously, they will be able to generate more in gate receipts from the stadium expansion but there is a limit to the number of shirts and merchandise you can sell within your home market.

“Presumably, what Glazer is looking towards is major expansion in the Far East and the US and there is a serious possibility he could be right.

“Around the world there are around 250 million people who have heard about, or expressed some interest in Manchester United. That figure alone suggests there is an untapped market, the question is how do you get into it.

“Undoubtedly, pay-TV is one of the answers.”

The obvious problem for Glazer is that he would require another 13 like-minded clubs to side with him in order to scrap the collective agreement, which seems unlikely given United are still the most glamorous and popular club in the Premier League, ensuring most of the remainder receive more cash than they could hope to collect on their own.

If the Tampa Bay Buccaneers owner has thought of a way round this tricky problem, he hasn’t made it public and is instead waiting to hear what the United board make of his proposals, which they publicly confirmed yesterday to the surprise of the American’s advisers.

Shares rose almost 5% on the news even though United officials refused to state when they expect to respond.

Angry supporters, seething that Glazer made his move on the 47th anniversary of the Munich air disaster, are placing themselves on a war footing, although it could take weeks before an actual deal is put together.

Given Gill has refused to let Glazer check United’s accounts, even if the new plans were deemed acceptable to proceed with a formal bid, financiers from Rothschild and JP Morgan, who are both believed to be backing Glazer, would have to pour over the books to make sure the American’s own figures stack up.

After that, Glazer could make his official approach, by which time, Irish racing duo John Magnier and JP McManus will have decided whether they are willing to sell their 28.9% stake, without which the American could not carry out his plans anyway.

United winger Ryan Giggs last night empathised with the supporters who are urging Glazer to back off.

Giggs, on international duty with Wales, said: “The Glazer things doesn’t affect the players, but I sympathise with the view of the fans.

“As far as the club is run at the moment, there is nothing wrong with it and I know the fans want that to continue. So do I. They feel the club is in good hands and it can’t get any better than it is at the moment.”