Man Utd confirm Glazer raises stake to 27.6%
(Agencies)
Updated: 2004-10-19 16:06

U.S. sports tycoon Malcolm Glazer, pictured here in a file photo, has bought more shares in Manchester United, lifting his stake in the world's richest soccer club to 27.63 percent from 25.3 percent and heightening speculation that he will bid for the soccer club, sources close to the situation say. [Reuters]

U.S. sports tycoon Malcolm Glazer has raised his stake in Manchester United Plc to 27.63 percent from 25.3 percent, the Premier League club said on Tuesday, heightening speculation that he will bid for them.

Glazer, owner of NFL team Tampa Bay Buccaneers, spent around 17 million pounds ($30.6 million) on 6.06 million shares at 284.97 pence each on Monday after spending 45 million pounds to buy 15.4 million shares on Friday.

The latest purchase puts Glazer within touching distance of United's biggest shareholders, Irish racehorse owners John Magnier and JP McManus, who own 28.9 percent of the club through their Cubic Expression investment vehicle.

The buying comes despite a breakdown in talks between Glazer and Cubic Expression over the American wanting to buy the Irish investors' stake.

It emphasises Glazer's continued interest in the 126-year-old soccer club, the richest in the world, valued at nearly 800 million pounds.

Shares in the FA Cup holders closed unchanged at 285p on Monday.

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