Glazer stalking reds again?

Malcolm Glazer, the US-based sports tycoon, has made another bid to gain control of Manchester United Football Club (MUFC), according to reports.

Last Month, talks between Glazer and Irish duo J P McManus and John Magnier – who hold a 29 per cent stake in the club – ended after the horse racing magnates rejected a bid that was conditional on Glazer being able to gain 75 per cent control of the club’s shares.

It is thought that Glazer has now dropped the clause in order to return to the negotiation table. In separate talks with the MUFC board, the club rejected an £800m direct takeover bid as the club claimed it was too reliant on borrowed money.

Glazer, who owns the American football team Tampa Bay Buccaneers, has 73.7 million shares in the club – amounting to a stake of 28.11 per cent. Magnier and MacManus share a 28.9 per cent stake in the club.

According to UK law, a stake of 50.1 per cent is needed to take full control of the club, while a share of over 30 per cent forces the shareholder to launch a formal takeover bid for the rest of the shares.