Thursday, May 12, 2005

ATH: Whoa!

Glazer gains control of Man U
Tampa Bay Bucs owner secures majority stake
Posted: Thursday May 12, 2005 10:11AM; Updated: Thursday May 12, 2005 5:21PM

LONDON (AP) -- Tampa Bay Buccaneers owner Malcolm Glazer gained control of the world's richest soccer team Thursday, drawing resentment from Manchester United fans who fear the "heart and soul" of the storied club has been sold to foreign interests.

Glazer began a $1.47 billion takeover bid of the team by becoming its majority shareholder. His ownership reached 56.9 percent after he bought a 28.7 percent share held by Irish racehorse owners J.P. McManus and John Magnier.

Financial analysts said the deal seemed certain to succeed, and suggested Glazer's ownership could quickly reach the critical 75 percent threshold. At that level, he could take the club private.

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