LONDON (AFP) - Manchester United`s future appeared to be thrown back into doubt with the Press Association reporting that United States businessman Malcolm Glazer had made a fresh offer to buy the 28.9 percent stake of majority sharholders John Magnier and J P McManus.
Talks between the Irish duo, whose stake is owned by a company called Cubic Expression, and Glazer collapsed last month after the two sides failed to reach agreement.
It is thought that Glazer was prepared to pay approximately 270 million pounds (500 million dollars) for Magnier and McManus`s shares.
However, this was conditional on Glazer, owner of the Tampa Bay Bucaneers NFL team, being able to gain control of 75 percent of United`s shares.
Glazer`s latest move is bound to cause concern among members of the United board who ended negotiations with him because of the high level of debt involved in his plans to complete a takeover.
Widespread protests by United fans against a Glazer buy-out of the Old Trafford club have failed to dampen his enthusiasm.
Within three days of Cubic`s original snub Glazer took his stake in United from 19.1 percent to 28.1 percent.
If Glazer cut a deal with Cubic he would own more than 50 percent of United and, under British company law, he would be obliged to make an offer to buy the remainder of the club`s shares.
11/04/2004 - 13:48 GMT - AFP