Tampa Bay owner ups stake in Man United

  • Other Sport
  • Sunday, 28 Sep 2003

LONDON: Malcolm Glazer, owner of Super Bowl champions Tampa Bay, has increased his stake in Premiership champions Manchester United. 

United revealed in a statement to the Stock Exchange that Glazer’s stake in Manchester United plc had risen to 3.17%, which represents over eight million shares. 

Glazer shot to fame in the United States when he splashed out US$192mil in 1995 for the struggling Tampa Bay franchise. 

Glazer, whose family made their money from the oil and gas industries, is listed as the 244th richest American by Forbes magazine, worth an estimated US$1bil.  

The Florida-based businessmanis not believed to have had any direct contact with United, instead preferring to buy up shares discreetly. 

But Stock Exchange rules mean investors must make it clear if they acquire over 3% of a company, which Glazer did Thursday to prompt United’s statement. 

United’s shares were worth 195.5 pence at close of trading on Thursday, valuing the Old Trafford club at around £500mil. – AFP  

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Across the site