From the MEN
'DAVID Gill returns from Geneva facing the most important decision of his career. The Manchester United chief executive, who has been at a Uefa conference, will play a key part in the decision over whether the club recommends to shareholders the latest £800m bid from US tycoon Malcolm Glazer.
‘Reds director of communications Phil Townsend said: 'The next scheduled board meeting is not until next month. This matter will take as long as is necessary.' Gill is under enormous pressure from fans, pressure groups, current and former players to reject Glazer, whose proposals, experts believe, could change the entire fabric of football finance worldwide. But he also has a duty as a director of a public company to act in the best interests of shareholders. There may be some investors who feel that the 300p mooted by 76-year-old Glazer, who owns 28.1 per cent of the club's shares, is a fair price.
‘The owner of the Tampa Bay Buccaneers, now believed to be supported by bankers JP Morgan, would be considerably strengthened if he wins the support of JP McManus and John Magnier. But the multi-millionaire racehorse owners, who are the biggest single shareholders with 28.9 per cent, have not been approached by Glazer. Sources close to them this morning reiterated that their position remains neutral, that Glazer's move is his alone, and his proposal is a matter for Gill and the board.
‘Meanwhile, a leading soccer finance expert said the only way Glazer can achieve his goal of making United more profitable is by targeting the Far East and US markets, with particular emphasis on pay-TV. Joe McLean, football specialist and partner at accountancy giants Grant Thornton, believes Glazer may try to break the collective Premiership TV deal and go it alone to raise revenues. This could have a serious knock on effect on football finance.’
Ha! The dual white elephants that are the Far East and US markets. Champions World are still doing very well aren’t they!