BBC NEWS Americas Africa Europe Middle East South Asia Asia Pacific
BBCi NEWS   SPORT   WEATHER   WORLD SERVICE   A-Z INDEX     

BBC News World Edition
    You are in: Business  
News Front Page
Africa
Americas
Asia-Pacific
Europe
Middle East
South Asia
UK
Business
E-Commerce
Economy
Market Data
Entertainment
Science/Nature
Technology
Health
-------------
Talking Point
-------------
Country Profiles
In Depth
-------------
Programmes
-------------
BBC Sport
BBC Weather
SERVICES
-------------
EDITIONS
 Sunday, 22 December, 2002, 14:18 GMT
'Man Utd fans' buyback mooted'
Manchester United logo
Manchester United is one of the world's richest clubs
City bankers have drawn up a plan to put Manchester United football club under its fans' control, according to a press report.

Under the plan, the iconic club would be bought back from its shareholders with money borrowed against future revenues, and transferred to a mutual trust whose directors would be partly elected by fans, the Sunday Times reported.

The proposals were drawn up by investment bank Goldman Sachs at the request of Irish financier Dermot Desmond, Celtic football club's largest shareholder, the paper said.

The move comes as Manchester United shares are languishing close to five-year lows amid waning investor enthusiasm for football clubs.

Fans' reaction

The Sunday Times quoted unnamed sources as saying that Mr Desmond was no longer pursuing the idea because of fears that it would be seen as a self-interested commercial venture.

However, Goldman Sachs' strategy document is still being passed around a group of senior City bankers, the paper said.

Manchester United is one of the world's richest and most successful football clubs, buoyed by lucrative merchandising, sponsorship and television deals.

Four years ago, satellite broadcaster BSkyB - which holds exclusive rights to screen live matches between English Premier League teams - bid 623m ($960m) to buy the club.

The takeover attempt elicited a hostile reaction from Manchester United fans, and was eventually blocked by competition watchdogs.

Manchester United shares closed at 108p on Friday.

See also:

20 Dec 02 | Business
20 Dec 02 | Man Utd
17 Dec 02 | Business
05 Nov 02 | Business
Internet links:


The BBC is not responsible for the content of external internet sites

Links to more Business stories are at the foot of the page.


E-mail this story to a friend

Links to more Business stories

© BBC ^^ Back to top

News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East |
South Asia | UK | Business | Entertainment | Science/Nature |
Technology | Health | Talking Point | Country Profiles | In Depth |
Programmes