US sports tycoon Malcolm Glazer has no plans to meet John Magnier and JP McManus today to discuss the future ownership of Manchester United, a source familiar with the matter said.
British newspapers had reported that members of Glazer's family were planning to meet racehorse owners Magnier and McManus on Tuesday to discuss the possible sale of their 28.9 percent stake. The source said that "categorically" this reported meeting was not scheduled to take place.
Glazer has built up a stake of 50.27 million shares, or 19.17 percent, in United. Magnier and McManus' stake is held through their Cubic Expression vehicle.
"Cubic Expression has no comment to make on rumours," said a representative for the publicity-shy investors. He declined to comment on whether McManus and Magnier would consider an offer from Glazer.
"We've said we're value investors," he added, reiterating previous comments by sources close to Cubic Expression that suggested McManus and Magnier saw themselves as long-term investors in the club.
United, whose team finished third in the premier league last season, has been the subject of persistent bid speculation since the two biggest shareholders -- Cubic Expression and Glazer -- began building up their stakes this year.
Filed by Barry J Whyte
