Celebrated Irish racehorse owners JP McManus and John Magnier today became the biggest single stakeholders in Manchester United Football Club. The pair, close friends of manager Alex Ferguson, have increased their holding in the club from 6.77% to 10.37%, overtaking BSkyB - who have 9.9% - as the major shareholders.
The move will strengthen speculation that they are preparing for a full takeover of United - some rumours have even suggested they would then install Ferguson as chairman. McManus and Magnier bought the shares through their Cubic Expression Company Limited, which is registered in the British Virgin Islands.
A statement from Manchester United plc tonight confirmed: "Manchester United plc have today been informed that the Cubic Expression Company Limited have increased their holding in the company and now hold 26,949,868 ordinary shares representing approximately 10.37% of the issued share capital of the company."
The pair's friendship with Ferguson is well-known and was highlighted by them giving the United manager a half share in the racehorse Rock of Gibraltar - the other half being owned by Magnier's wife Sue.
Filed by Shane Murray
