Glazer offer 'remains a possibility'

Manchester United’s plc board today confirmed “no talks are currently ongoing” with Malcolm Glazer but that a takeover by the American multi-millionaire remains a “possibility”.

United told the London Stock Exchange today that talks between Glazer and major shareholders John Magnier and JP McManus had reached no agreement.

After confirming they have held “preliminary discussions” with the Glazer Family Limited Partnership, the plc board informed the Stock Exchange: “There is currently no definitive proposal for the board to consider.”

The statement read: “The board can confirm that it has held preliminary discussions with the Glazer Family Limited Partnership (’Glazer Family’) and its advisers about a possible offer.

“There is currently no definitive proposal for the board to consider. The board also understands that the Glazer Family and its advisers held discussions with Cubic Expression but that no talks are currently ongoing.

“The board understands that the Glazer Family continues to consider all its options in relation to its shareholding in Manchester United, including the possibility of making an offer.

“The board can assure shareholders in the company and fans of the club that, should any proposal be made in the future, the board will take into account all relevant considerations including the potential financial terms, possible financial structure and any impact these considerations may have on the future operation of the football club.”

News that Glazer’s intended bid to buy the Old Trafford outfit had collapsed after he failed to reach agreement was greeted with cautious optimism at a meeting of the influential Independent Manchester United Supporters Association in Stretford last night.

Supporters will now lobby chief executive David Gill in an attempt to create a situation where 10.01% of the club is left in the hands of ordinary fans, a position that would leave any future bidder needing to be publicly accountable for the way the company is run.

“All we want to do is put pressure on the board and get them to put something in place to stop this kind of thing happening again,” said IMUSA spokesman Mark Longden.