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+--- Thread: News: Glazer goes about plot (/Thread-News-Glazer-goes-about-plot)
News: Glazer goes about plot - ForumAdmin - 22-06-2005
Glazer set to de-list United
US tycoon Malcolm Glazer was set to formally delist Manchester United from the Stock Market at close of trading on Wednesday, ending 14 years of trading in Red Devils shares.
Confirmation may not be received until early Thursday but the move is nothing more than an administrative process as Glazer's 97.3 percent stake in the Old Trafford outfit already gives him total control.
The Tampa Bay Buccaneers owner is due to give an update on his precise shareholding next Monday, once the latest extension for current shareholders to sell him their stake has expired.
It is widely assumed he will have collected the extra 0.3 percent which will allow him to launch a compulsory purchase of the remaining shares.
Once that move has been concluded and the club is brought out of its current Offer Period, representatives of Glazer's Red Football operation, in all likelihood son Joel, would be free to instigate the changes the Americans' camp hope will bring a massive hike in profits.
Glazer has reportedly demanded that United raise ticket prices at the club's Old Trafford stadium by 54 percent to finance his takeover.
The Times newspaper claimed last week to have seen documents outlining plans to boost United's revenues from £161.5 million this year to £246 million in 2010.
The improved turnover would be funded from three key areas -- a 61 percent increase in match day sales, a 13 percent rise in media sales, and 76 percent increase in sales of merchandise and other commercial activities.
The average ticket price at Old Trafford would rise from under 30 pounds to 46 pounds over the next five years. source Supersport
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The fans worst nightmare is coming true
:mrburns: