Glazer to complete United deal today
US billionaire sports tycoon Malcolm Glazer is set to assume full control at Manchester United today.
The billionaire’s Red Football group needs to have secured just another 0.3% of the Premiership club’s shares by today’s 3pm deadline in order to compulsorily buy the remaining stock.
Despite continued anger among fans at the takeover, critics believe Mr Glazer’s 100% ownership is inevitable. An announcement is expected late this evening or early tomorrow.
The original offer deadline expired a fortnight ago with Mr Glazer still short by 0.3%, leading Red Football to extend the offer period to today.
Details of Mr Glazer’s plans for the club are also said to include raising its revenues by 52% by 2010. It means a ticket priced at around £30 (€45) could increase to about £45 (€60) by 2010.
Mr Glazer’s sons, Joel, Avram and Bryan, were this month appointed to the board of Manchester United in a major reshuffle of the Old Trafford boardroom that saw long-serving chairman Roy Gardner resign.
