No!!!!!!!!!!! Major Bad News!!! (3 Viewers)
- Thread starter Nicole
- Start date
Football clubs have no business being public companies. Even for companies that are in for-profit businesses, having public shares is as much of a burden as a help -- so you better have exacting reasons why you think it's a good idea.
Public shares puts profits ahead of everything else -- including winning.
Public shares puts profits ahead of everything else -- including winning.
American billionaire Malcolm Glazer announced today that he has achieved 98 per cent ownership of Manchester United FC, pushing him above the level which gives him the right to buy out remaining shareholders.
Compulsory buyout
Glazer said he had increased his holding above the key 97.6 per cent mark needed to compulsorily buy out any last shareholders. On 14 June, Glazer had revealed he held 97.3 per cent of the English Premiership club.
Two-year battle
The sports tycoon won control of Manchester United last month after a two-year battle with a cash bid at 300 pence per share, which valued the 15-times English champions at £796m (approximately €1.2bn).
Full control
Glazer soon clinched full control of the Old Trafford team by pushing his shareholding above 75 per cent, which gave him the right to delist the shares from the stock market, and launched his formal bid for all shares in the club when his holding reached 75.7 per cent.
Compulsory buyout
Glazer said he had increased his holding above the key 97.6 per cent mark needed to compulsorily buy out any last shareholders. On 14 June, Glazer had revealed he held 97.3 per cent of the English Premiership club.
Two-year battle
The sports tycoon won control of Manchester United last month after a two-year battle with a cash bid at 300 pence per share, which valued the 15-times English champions at £796m (approximately €1.2bn).
Full control
Glazer soon clinched full control of the Old Trafford team by pushing his shareholding above 75 per cent, which gave him the right to delist the shares from the stock market, and launched his formal bid for all shares in the club when his holding reached 75.7 per cent.
Bottles, bricks, baton charges, snarling police dogs and arrests -
short of seeing an actual soccerball match, new MU Rowdies owner
Malcolm Glazer's three American sons couldn't have received a better grounding in the arcane delights of English football when they paid their first visit to the Old Trafford ballpark last night. The
behaviour of the fans will surely have puzzled the brothers Glazer -
having spent months fruitlessly trying to keep the Americans out of
their club, the hapless protestors spent yesterday building
barricades across several exits in an equally fruitless attempt to
prevent them from leaving it.
Today, a Manchester police chief defended the actions of officers who charged the Malcolmtents and denied claims that officers had been heavy-handed in using batons against the protestors. "In our view this was a violent demonstration that had the potential to become even more violent. We believe officers used the batons quite lawfully and quite justifiably," allo, allo, alloed assistant chief constable Steve Thomas. "Some of our dogs did bite United fans, but have been given tetanus and rabies shots as a precautionary measure," he could have continued but didn't.
This morning saw Hughie, Louis and Dewey Glazer pay a more leisurely visit around Old Trafford where they took time out to stock up on expensive tat from the club Megastore, before settling down to listen to some of club director Sir Bobby Charlton's interesting stories over lunch. "They know all about the history of the club, about Munich and what happened there. I think the club is bigger than the Glazer family, the players or the directors that have been here before. I am happy with what they had to say and feel better for hearing them," explained Charlton, as what sounded like the snoring of three portly yanks in the background threatened to drown him out.
short of seeing an actual soccerball match, new MU Rowdies owner
Malcolm Glazer's three American sons couldn't have received a better grounding in the arcane delights of English football when they paid their first visit to the Old Trafford ballpark last night. The
behaviour of the fans will surely have puzzled the brothers Glazer -
having spent months fruitlessly trying to keep the Americans out of
their club, the hapless protestors spent yesterday building
barricades across several exits in an equally fruitless attempt to
prevent them from leaving it.
Today, a Manchester police chief defended the actions of officers who charged the Malcolmtents and denied claims that officers had been heavy-handed in using batons against the protestors. "In our view this was a violent demonstration that had the potential to become even more violent. We believe officers used the batons quite lawfully and quite justifiably," allo, allo, alloed assistant chief constable Steve Thomas. "Some of our dogs did bite United fans, but have been given tetanus and rabies shots as a precautionary measure," he could have continued but didn't.
This morning saw Hughie, Louis and Dewey Glazer pay a more leisurely visit around Old Trafford where they took time out to stock up on expensive tat from the club Megastore, before settling down to listen to some of club director Sir Bobby Charlton's interesting stories over lunch. "They know all about the history of the club, about Munich and what happened there. I think the club is bigger than the Glazer family, the players or the directors that have been here before. I am happy with what they had to say and feel better for hearing them," explained Charlton, as what sounded like the snoring of three portly yanks in the background threatened to drown him out.
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Well, all the hullabaloo seems to have died down now, with the fans preparing to get on with the reality of the new ownership. And, as Glazer has come out to say that there's actually no cap on spending for Ferguson, I think all the doomsayers will now hold their peace.
The Star Spangled Banner to be played before Man Utd home games anyone?
The Star Spangled Banner to be played before Man Utd home games anyone?