Man Utd fans battle club takeover

Fans want more control over the clubs they follow

Manchester United will meet small shareholders in the coming months to discuss ways of blocking a takeover, an investor group has told the BBC.

The comment came as chief executive David Gill said the club didn't need or want "a sugar daddy".

Speculation has increased in recent months that big investors in the club might try to mount a takeover bid.

One way the club could veto bids would be to sell more shares and place them in trust, the investor group said.

Refused

Speaking after Friday's annual general meeting, Professor Jonathan Michie, chairman and director of Shareholders United, said he was optimistic Man Utd and its supporters would be able to block any bids.

A takeover would need approval from 90% of shareholders to succeed. Shareholders United says it hopes to represent as much as 17% of the outstanding stock.

We are glad that the club are waking up to this threat Oliver Houston, Shareholders United

The biggest shareholders in the club are horse racing magnates JP McManus and John Magnier, who own about 23%. They have previously said their investment is only for financial reasons.

Their biggest potential rival for control is American tycoon Malcolm Glazer, owner of the Tampa Bay Buccaneers American football team.

Mr Glazer owns just under 10%, but has repeatedly refused to rule out a takeover.

"We are glad that the club are waking up to this threat and realising it's not just shareholders' shares that are on the line but also directors' jobs that would be threatened if the club was taken private," said Shareholders United spokesman Oliver Houston.

End to transparency

Other high-profile United shareholders include John De Mol, the Dutch TV mogul behind Big Brother, Scottish mining entrepreneur Harry Dobson, and Dermot Desmond, the Irish millionaire who owns 21% of Celtic football club.

A look at who could be preparing to take over Man United

At-a-glance

All have been linked at one time or another to possible takeover bids.

As their stakes increased, fans voiced fears the club would be delisted from the stock exchange and would put proift before the interests of supporters.

"Once Manchester United ceases to be a public company, it's an end to transparency," said Mr Michie.

Man Utd shares closed 1% higher at 236.25p on Friday. This implies a stock market value for the club of £622m.