triplow wrote:
Since the late 1990s, the club has been one of the richest in the world with the highest revenue of any football club,[5] and is currently ranked as the richest club in any sport, with an estimated value of £897 million (€1.333 billion / $1.8 billion) as of September 2008
Malcolm Glazer had owned shares in the club since 2003, possibly earlier. On 26 September 2003, it was reported that he had increased his share to 3.17%,[1] taking his shareholding above the 3% threshold at which he had to inform the club's management about it. There had already been considerable speculation about the possibility of a takeover of the club, either by Glazer or by one of several other interested parties.[1] By 20 October, he had increased his shareholding to 8.93%,[2] and on 29 November it was reported that he owned around 15% of the club and had met David Gill, its chief executive, to discuss his intentions.[3] On 12 February 2004, Glazer increased his stake in the club to 16.31% and the following day's Financial Times reported that he had instructed Commerzbank to explore a takeover bid. The club's share price increased by 5% that day, valuing the club at a total of £741m.[4] Glazer increased his shareholding to over 19% the following June, although he was still not the largest shareholder.[5] His shareholding continued to increase, nearing 30% by October 2004. Upon reaching 30%, Glazer would have to launch a formal takeover bid.[6]
On 12 May 2005, Glazer reached an agreement with shareholders J. P. McManus and John Magnier to purchase their 28.7% stake in the team, giving him a controlling stake with just under 57% of the team's shares. He then managed to secure the stake of the third largest stakeholder, Scottish mining entrepreneur Harry Dobson, taking his share total to 62% of the club. Just hours later, Glazer had bought a further 9.8% stake taking his total ownership to 71.8%.
On 16 May 2005, Glazer took his shareholding in United to 75%, allowing him to end the club's PLC status and delist it from the London Stock Exchange, which he did on 22 June.[7] On 14 June 2005, Glazer successfully increased his share in the club to 97.3%, sufficient for full control. On 28 June he increased his share to 98%, enough for a compulsory buyout of all remaining shareholders.[8] The final valuation of the club was almost £800 million (approximately $1.5 billion at the exchange rate at the time).
and its not all about money????????????
Board index » PARANORMAL » Psychic / Mediums
