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"Racing Magnates To Sell United Shares?"

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Fri 04/07/03 at 10:18
Regular
Posts: 787
Racing magnates John Magnier and J P McManus could be about to sell their stake in Manchester United, according to reports.

Magnier and McManus, who are close friends and allies of United boss Sir Alex Ferguson, are the biggest single stakeholders in the eight-times Premiership champions.

They hold 10.37 per cent of the club, a stake which is valued at nearly £40 million, through their Cubic Expression investment arm.

It is reported that the racehorse owners were disappointed when the Red Devils paid a British record £30 million to Leeds United last summer for the world's most expensive defender Rio Ferdinand.

Transfer fees have fallen dramatically since the Ferdinand purchase - United sold England captain David Beckham to Real Madrid for £24.5 million.

Reports claim that there could be a buyer for the stake though they doubt whether a City institution would bid.
Fri 04/07/03 at 16:19
Regular
"Hellfire Stoker"
Posts: 10,534
If the chairman doesen't buy the stock, to assert his power, who will? If the club falls into the hairy hands of some Johnny Foreigner I won't be happy.
Fri 04/07/03 at 10:18
Regular
"Proud PS2+GC Owner"
Posts: 199
Racing magnates John Magnier and J P McManus could be about to sell their stake in Manchester United, according to reports.

Magnier and McManus, who are close friends and allies of United boss Sir Alex Ferguson, are the biggest single stakeholders in the eight-times Premiership champions.

They hold 10.37 per cent of the club, a stake which is valued at nearly £40 million, through their Cubic Expression investment arm.

It is reported that the racehorse owners were disappointed when the Red Devils paid a British record £30 million to Leeds United last summer for the world's most expensive defender Rio Ferdinand.

Transfer fees have fallen dramatically since the Ferdinand purchase - United sold England captain David Beckham to Real Madrid for £24.5 million.

Reports claim that there could be a buyer for the stake though they doubt whether a City institution would bid.

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