A Manchester United pressure group say they have been encouraged by soundings from Irish millionaires JP McManus and John Magnier. The racehorse owners, 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.
McManus and Magnier bought the shares through their Cubic Expression Company Limited, which is registered in the British Virgin Islands. Shareholders United spokesman Oliver Houston said: “We have had contact with Cubic and they made some very encouraging shouts. They were positive about Shareholders United and what we were saying about the fans having representation and a greater say in how their club was run. Manchester United is not the play-thing of stockbrokers, international corporations and wealthy individuals. It is a 125-year-old community asset that is there first and foremost to serve its fans, not its shareholders.”
Shareholders United, who were instrumental in preventing the club being taken over by BSkyB in 1999, say they now have more muscle. Houston said: “The reality of the plc is that shares that can be bought and sold by whoever and whenever. That came to a head in the takeover attempt by Rupert Murdoch and BSkyB. The fact that it was Rupert Murdoch was hugely significant. But even if it had been Florence Nightingale many fans do not want to see their club back in the hands of one single remote power, other than a supporters trust. Any kind of takeover bid or push for great control is going to have to have the support of the fans, especially after the way the supporters mobilised against the Murdoch bid. We are more capable now than we were then of mounting something like that. Cubic certainly know that.”
Filed by James Boylan.
