If American businessman Malcolm Glazer wants to buy Manchester United, he'll have to overcome fierce opposition from fans of the storied English soccer club.
Worried about higher ticket prices and loss of the club's British heritage, fans' groups mobilized Monday to block any takeover by the multimillionaire Tampa Bay Buccaneers owner.
"If Glazer wants a fight, we will give him one," said Jules Spencer, chairman of the Independent Manchester United Supporters Association. "We want to make it clear that he is not welcome or wanted as owner of Manchester United."
In a statement to the London stock exchange, Manchester United's board said it had received a "preliminary approach" for a buyout of one of the world's richest and most successful sports franchises.
While the club didn't identify the potential bidder, it is widely believed to be Glazer.
The statement was issued after weekend newspaper reports that Glazer appointed US investment bank JP Morgan to advise him on a ?600-million takeover.
The statement said the approach "contains a number of significant conditions."
"The company is seeking clarification of this proposal and at this stage it is unclear whether any offer will be made," it said.
Man United's share price jumped almost 4 percent to 267 pence following the statement. The club is valued at around ?700 million.
Glazer already has a 19.2 percent stake in United. He's the second largest shareholder behind Irish racehorse owners J.P. McManus and John Magnier, whose joint company Cubic Expression holds a 28.9 percent stake.
Glazer would have to buy the Irishmen's shares to gain control of the club. Any shareholder with a stake of 30 percent or more is required to make a formal takeover bid.
About 18 percent of the club's shares are held by small investors, many of whom are hard-core fans opposed to a takeover by any single person or company.
Manchester United fans' groups wield significant influence. As a bloc, they played a key role in foiling a takeover bid by Rupert Murdoch's BSkyB in 1999.
"Malcolm Glazer is an investor shareholder who wants to make a profit, to suck the marrow out of Manchester United," said Sean Bones, chairman of Shareholders United. "It's up to every Manchester United supporter to do their best. Even if he does get enough shares, we will have a foothold to repel him."
Glazer, who has steadily increased his stake in the club over the past two years, issued a statement in March saying his company, Glazer Family Partnership, had "no current intention" of launching a takeover.
Analysts said the club's current share price, down from a high of 440 pence would be considered a good buy.
The timing could also be motivated by the spectacular debut of 18-year-old striker Wayne Rooney, who scored three goals in Man United's 6-2 Champions League win over Turkish side Fenerbahce last week.
Rooney, who transferred from Everton to United over the summer in a deal worth up to ?30 million, is viewed as potentially the best English player of the era.
Manchester United claims 75 million fans worldwide, more than half of them in Asia. The club has won the English Premier League title eight out of the last 11 years, but finished third last season and is fourth this year.
Glazer, who bought the Buccaneers in 1995 for US$192 million, transformed the NFL team from a perennial loser into Super Bowl champions in 2003. The Bucs are 0-4 this season.
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