Glazer step nearer to becoming Man United’s biggest shareholder

LONDON – The family of US sports tycoon Malcolm Glazer said yesterday it had raised its stake in Manchester United to 27,6 per cent from 25,3 making it almost the largest shareholder in the world’s richest football club.

In a statement to the London Stock Exchange, the Glazer family said it had bought almost 6,1 million shares at 284,97 pence each. It comes a day after the family confirmed it had increased its stake to 25,3 per cent from 19,2 since last Friday.The Glazer family has now stopped just short of the 29,9 per cent threshold above which an offer to buy out the club would have to be made under British takeover rules.Glazer, owner of NFL franchise Tampa Bay Buccaneers, is the second-largest shareholder in United.The Glazer family has now stopped just short of the 29,9-percent threshold above which an offer to buy out the club would have to be made under British takeover rules.United said last week that Glazer’s talks with the club’s biggest shareholders, the Irish racing tycoons John Magnier and JP McManus, who hold 28,9 per cent appeared to have broken down.-Nampa-AFPIt comes a day after the family confirmed it had increased its stake to 25,3 per cent from 19,2 since last Friday.The Glazer family has now stopped just short of the 29,9 per cent threshold above which an offer to buy out the club would have to be made under British takeover rules.Glazer, owner of NFL franchise Tampa Bay Buccaneers, is the second-largest shareholder in United.The Glazer family has now stopped just short of the 29,9-percent threshold above which an offer to buy out the club would have to be made under British takeover rules.United said last week that Glazer’s talks with the club’s biggest shareholders, the Irish racing tycoons John Magnier and JP McManus, who hold 28,9 per cent appeared to have broken down.-Nampa-AFP