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.
Glazer made his money in a variety of ways, starting at age 15 when he took over the family watch business after his father died. Now he runs First Allied Corp, a conglomerate of businesses with an estimated worth of US$1.5 billion.
But Glazer isn't as wealthy as Roman Abramovich, the Russian oil billionaire who took over London club Chelsea in June 2003. He cleared the club's multimillion pound debts and spent more than ?200 million on new players.
Man United fans believe Glazer would have to borrow money to buy the club, resulting in increased ticket prices.
Some fans also just can't stomach the idea of an outsider, particularly an American, owning the club.
"It's not that Mr. Glazer is American, it's that he's never been to Old Trafford, he doesn't have any understanding of the culture and the traditions and the heritage of football, let alone Manchester United," said Nick Towle of Shareholders United.
"It's very difficult for people like that to know how emotional fans feel about their club, their heritage."
Crystal Palace 2, Fulham 0
Finland's Aki Riihilahti scored one goal and set up another as Crystal Palace beat 10-man Fulham 2-0 on Monday night for the Eagles' first victory since their return to the Premier League.
The victory at Selhurst Park lifted Iain Dowie's team out of last place and above winless Norwich, another promoted side.
Fulham was reduced to 10 men after just five minutes when defender Ian Pearce received a red card. He made a poor back pass and dragged down Andy Johnson in the penalty area.
Palace missed several chances in the first half, but finally converted in the 53rd minute when Riihilahti slipped a pass through the Fulham defense and Johnson hit a right-footed shot past Dutch goalkeeper Edwin van der Sar for his fifth goal of the season.
Riihilahti made it 2-0 in the 68th minute, leaping high to head in a corner from Wayne Routledge. Johnson could have made it 3-0 when he went in all alone on van der Sar in the 85th minute but shot wide left.
Palace, promoted to the top flight for the first time since 1994, had gone without a win in its first seven games. The Eagles now have five points and are ahead of Norwich on goal defense.
"The first one's the most important one," Dowie said. "We've still got a long way to go."
"It's pleasing just to get three points and get off the bottom," Johnson said.
"We got a great result and the boys really deserved it."
Fulham was without leading scorer Andy Cole and midfield star Papa Bouba Diop, who were both serving the last game of their three-match suspensions. Denmark international Claus Jensen was out with a back problem.
Crystal Palace's new Greek signing, Vassilios Lakis, came on as a substitute in the second half.
US striker Brian McBride started for Fulham, but was substituted in the 62nd minute by Collins John. Another American, defender Carlos Bocanegra, came on a sub at the same time and later received a yellow card for a foul.
In a second-round game in the League Cup, Preston beat Leicester 3-2 in the second period of extra time. Richard Cresswell scored three goals, including the winner in the 113th minute, to earn a trip to Everton.
Tottenham posted an operating deficit of ?1.189 million (US$2.12 million) for the year ending June 30, 2004, the Premier League club said Tuesday.
Profit before player trading exceeded ?9.7 million, but the signings of Bobby Zamora, Frederic Kanoute, Jermain Defoe, Michael Brown and Paul Robinson resulted in the overall loss.
The club's turnover was ?66.3 milliondown ?200,000 from the previous year, the club said in a statement to the London Stock Exchange.
A ?15-million share issue boosted the club's net assets by ?11 million to ?42.264 million and helped fund the club's transfer dealings.
Spurs chairman David Levy said the club spent ?37.5 million on transfer fees for new players since July 1, 2003.
Levy acknowledged the level of spending was "clearly unsustainable" but said the club had made significant improvements, with 17 players leaving and 21 new players arriving.
Gone are Gary Doherty, Helder Postiga, Milenko Acimovic, Darren Anderton, Stephen Carr, Gus Poyet, Christian Ziege and Lars Hirschfeld.
Those who have moved to White Hart Lane are Pedro Mendes, Sean Davis, Paul Robinson, Marton Fulop, Thimothee Atouba, Rodrigo Defendi, Erik Edman, Noureddine Naybet, Edson Silva Sousa, Michael Carrick, Noe Pamarot, Reto Ziegler, Calum Davenport, Leigh Mills and Spase Dilevski.
Redknapp charged
Tottenham midfielder Jamie Redknapp was charged Monday with "serious foul play" for a tackle on Everton's Tim Cahill.
Redknapp, who caught Cahill with a knee-high tackle, was shown a yellow card on the play. Redknapp has 14 days to appeal.
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