PLC'S TAKEOVER FEARS

Last updated : 14 February 2003 By Editor
United are to launch a charm offensive in a bid to attract US investors. Officials are hoping to set up meetings with institutional investors during the summer, coinciding with a club tour. The Reds will play in Seattle, Los Angeles, New York and Philadelphia on a pre-season tour in late July and early August.

And, in a bid to broaden the shareholder base, chief executive Peter Kenyon and finance director Nick Humby will meet potential investors through United's house broker Merrill Lynch, the US investment bank.

At present, United's shareholders are almost exclusively based in the UK and Ireland. Thousands of ordinary fans hold small numbers of shares.
Bigger stakeholders include BSkyB, horse racing millionaires JP McManus and John Magnier, Scots tycoon Harry Dobson and Manchester lawyer Maurice Watkins.

Mr Humby said: "The summer tour will help us lift the profile of United and the brand in the USA. Our poll a few years ago showed that we have four million fans in the United States out of 53 million worldwide, and this is an opportunity to see our American fan base grow. Interest in football is bubbling quite nicely over there.

“We have a 13-year merchandising deal with Nike, while Pepsi and Budweiser are sponsors. These are very strong brands in the US. It's logical that, while we are touring, we should meet US institutional fund investors and see if we can attract their interest in Manchester United shares. We don't expect to see a massive change in our shareholders' register immediately. It's about building relationships."

United are clearly worried about a takeover and have placed a lot of emphasis on this move. Paddy Harverson was quoted extensively in the Times this week and is currently believed to be in the States, perhaps as part of this initiative.
US investors have always been keen on Utd – indeed Rupert Murdoch is an American citizen – but before Sky's takeover attempt the biggest shareholder in United was Marathon Asset Management, a US fund manager.

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