More Man U shareholder shenanigans

[Arwel]

The BBC is reporting that Magnier & McManus have bought out John de Mol's Man U shareholding this morning. This takes their total shareholding above 29%, and very close to the 29.9% where they will be legally required to bid for all the shares.

The BBC's economics correspondent described it as the closest thing to parking their tanks on Sir Alex's lawn.

Interesting times!

[Motterman]

Ok, getting a bit edgy now....

[Matt Clark]

Well, maybe now they will get some answers to those eminently reasonable 99 questions from the "biggest club in the world". It's not like we couldn't all do with those answers.

Personally, I think it would make little or no difference to United if the Big Mac's own the place. It's not like they're making money out of the shares they own, so if they do take control, they might as well run the business as best they can and make a return on their investment. On the obvious basis that the present board is a collection of incompetents and charlatans and that their "fans" ARE stupid enough to keep a firm grip on their ankles whilst all this is going on, they can hardly do wrong.

[Achtung]

Originally posted by Matt Clark
Well, maybe now they will get some answers to those eminently reasonable 99 questions from the "biggest club in the world". It's not like we couldn't all do with those answers.

They already received answers to the questions last week.

http://news.bbc.co.uk/sport2/hi/football/teams/m/man_utd/3461047.stm

This club has been run very successfully as a PLC for many years now, and in America, we like to say, "if it ain't broke, don't fix it." The club is being run to its potential right now, and any attempt to change ownership is generally not going to be recognized as a good thing.

[Matt Clark]

I think you'll find the club has been very poorly run as an adjunct of the PLC. The two are separate entities, but I'm sure you know that already.

But I agree ... the PLC has been very well run as such. Well, unless any of the long list of improprieties is finally uncovered by the Big Macs.

[Arwel]

And in today's share dealings, US entrepreneur Malcolm Glaser (owner of the Tampa Bay Buccaneers) has bought 5.4 million shares pushing his shareholding up to 16.31%. (Correcting yesterdays' posting, the Magnier/McManus shareholding is now quoted at 28.89%). Glaser seems happy just to own shares for the moment, but Magnier & McManus have asked for 3 seats on the board.

[Achtung]

Originally posted by Matt Clark
I think you'll find the club has been very poorly run as an adjunct of the PLC. The two are separate entities, but I'm sure you know that already.

But I agree ... the PLC has been very well run as such. Well, unless any of the long list of improprieties is finally uncovered by the Big Macs.

Yes, I'm quite aware of the technical separation betweent the PLC and Manchester United Football Club, both of which have separate boards. The PLC is techincally a holding company which owns the club as a subsidiary. The success of the PLC is intended to benefit the club, and I believe that has been the case in general. However, the PLC does oversee and approve any squad moves involving the club, so I think its more than fair to use the terms interchangeably in this situation.

Could you please elaborate on ways in which you think the club has been poorly run? If you don't mind enlightening a clueless, American glory hunter, that is.