Billionaire rules out Man Utd bid - for now

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The Independent Online

American billionaire Malcolm Glazer today told Manchester United he had no intention of making a takeover bid for the Premiership champions.

The American billionaire Malcolm Glazer today told Manchester United he had no intention of making a takeover bid for the Premiership champions.

The announcement from Mr Glazer, who owns former Super Bowl champions the Tampa Bay Buccaneers, came as the club unveiled a 32% rise in half-year profits to £26.8 million.

The club described the first six months of its financial year as an "extraordinary period", adding that the Manchester United brand had gone from strength to strength".

Mr Glazer, who has a 16.69% stake in the club, fuelled speculation of a takeover bid by announcing in February that he was "considering his options". The matter was subsequently referred to the Takeover Panel.

The tycoon ruled out an immediate bid today but added that he could still move to increase or decrease his shareholding.

Today's statement said: "At the request of Manchester United that it should clarify its position, the Glazer Family Partnership confirms today that it has no current intention to make an offer for Manchester United."

The interest from Mr Glazer emerged at the same time as John Magnier and JP McManus were building up a 29% stake in the club.

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