SportBusiness.com

FAN FURY OVER GLAZER

Manchester United fans are fuming that US tycoon Malcolm Glazer has been able to launch a formal takeover bid for the club.

He now has a 70 per cent share after securing the all-important 28.7 per cent stake of Irish pair JP McManus and John Magnier.

Around 2,000 fans gathered at United’s Old Trafford stadium on Thursday evening and some marched around the ground with a huge ‘Not For Sale’ banner.

There was also a sit-down protest with fans blocking a main road while others burned effigies of Glazer and season-ticket renewal forms.

Supporters are concerned about the level of debt involved in Glazer's bid and fear ticket prices will soar as a result.

Meanwhile, Glazer is expected to acquire further shares. Once he owns more than 75 per cent he can de-list the club and saddle it with the debt used to finance the takeover.

There is speculation that Glazer may try to negotiate United's own television deals, leaving the door open for other clubs to follow.

But Premier League chief executive Richard Scudamore told the BBC that the takeover would not affect future TV rights.