Glazer ponders Man United bid

Mr Malcolm Glazer, the US entrepreneur who has built a stake in Manchester United, yesterday said he was considering a "possible offer" for the English football club.

Mr Glazer, the owner of the Tampa Bay Buccaneers, has amassed a 17 per cent stake in the club but said he had not appointed financial advisers in relation to his plans.

The Malcolm I Glazer Family Partnership said it had "acquired shares in Manchester United because it has great admiration for Manchester United's rich history, loyal fans, great players, outstanding managers, winning tradition and for investment purposes".

It added it was "considering possible options, which may include increasing its shareholding or decreasing its shareholding".

These options could also include a "possible offer for or a possible sale of its shareholding in Manchester United".

The statement is believed to have been released following the intervention of the Takeover Panel, which regulates mergers and acquisitions.

The panel is believed to have sought a clarifying statement from Mr Glazer's camp after a sharp rise in Manchester United shares on Friday appeared to have been triggered by news that Mr Glazer had instructed Commerzbank to examine bid possibilities.

Although it has not been formally appointed, Commerzbank is known to have examined how a bid by Mr Glazer for Manchester United would work.

This has included an informal approach to club manager Sir Alex Ferguson because his support, and the support of the club's fans, would be critical to the success of any bid.

Mr Keith Harris, the banker who advised Chelsea Football Club on its sale to Mr Roman Abramovich, is also thought to have been consulted on an informal basis by Commerzbank.

Messrs John Magnier and JP McManus, Manchester United's largest shareholders via their Cubic Expression investment vehicle, increased their stake in the club last week to 29 per cent. They have indicated they will not bid for the club because they are long-term investors.

Meanwhile, fans pressure group Shareholders United has re-instated its commitment to fight against any single body that wants to try to take control of the club.

Spokesman Mr Oliver Houston said: "While we welcome that Malcolm Glazer has made his first public pronouncement - one that the Takeover Panel had to drag out of him - this supposed statement of intent is as clear as the new offside rule.

"Even if neither Cubic nor Glazer are making their moves with a prelude to a takeover, they are clearly out to make a killing by flogging their shareholding to someone else," he said.

"These are both things that United fans and shareholders find deeply offensive - wealthy people, who have no need, trying to make even more money off the back of the loyalty of supporters.

"The briefing coming from the Glazer camp is that he would either make overtures to fans or would seek to secure Sir Alex Ferguson's position [as manager].

"But we've had no overtures, no official or unofficial contact."