Football: BSkyB cuts its United stake

THE PREMIER LEAGUE yesterday turned down Manchester United's request that BSkyB be allowed to retain an 11.1 per cent shareholding in the club. The Rupert Murdoch-controlled television group immediately cut its stake by 1.13 per cent to 9.99, selling 2.9 million shares following the ruling.

The Premier League's chief executive Richard Scudamore said: "The Board of the FA Premier League... considered BSkyB's shareholding in Manchester United in light of their 9.9 per cent stake in Leeds United and the provisions contained in the Premier League's rules on interests held in more than one club. We are of the view that BSkyB should not hold an 11.1 per cent stake in Manchester United. [Both parties] have responded positively and we understand steps have been taken to bring the position into line with Premier League policy."

As well as their shareholdings in United and Leeds, the company are buying a 9.9 per cent stake in Manchester City.

The decision by the Premier League followed a call from a group of United shareholders to stop BSkyB buying stakes in different clubs at the Treble winners' AGM last Thursday.

A spokesman for Shareholders United, Oliver Houston, last night urged further co-operation between football authorities and the Government over BSkyB's shareholding in clubs.

Houston said: "The 9.9 per cent figure is a red herring. FA and Premier League rules state that this threshold is for investment purposes only.

"Given BSkyB's strategic holding in Leeds and Manchester City, no one can seriously suggest that BSkyB's stake in Manchester United is anything other than an attempt to gain a strategic footing in the negotiation of TV rights.

"We urge the Football Association to work with the Department of Culture, Media and Sport and the Office of Fair Trading to ensure a wholesale approach to this problem."

Have you tried new the Independent Digital Edition apps?
Caption competition
Caption competition
  • Get to the point
Latest stories from i100
Daily Quiz
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

Career Services
iJobs Job Widget
iJobs General

Recruitment Genius: Chiropractic Assistant

£16500 per annum: Recruitment Genius: A Chiropractic Assistant is needed in a ...

Recruitment Genius: Digital Account Executive - Midlands

£18000 - £26000 per annum: Recruitment Genius: They work with major vehicle ma...

Recruitment Genius: Web Developer

£28000 - £30000 per annum: Recruitment Genius: This company provides coaching ...

Ashdown Group: Front-End UI Application Developer

£30000 - £40000 per annum + Benefits: Ashdown Group: Front-End UI Application ...

Day In a Page

Timeless drama of Championship race in league of its own - Michael Calvin

Michael Calvin's Last Word

Timeless drama of Championship race in league of its own
Where the spooks get their coffee fix: The busiest Starbucks in the US is also the most secretive

The secret CIA Starbucks

The coffee shop is deep inside the agency's forested Virginia compound
Revealed: How the Establishment closed ranks over fallout from Loch Ness Monster 'sighting'

How the Establishment closed ranks over fallout from Nessie 'sighting'

The Natural History Museum's chief scientist was dismissed for declaring he had found the monster
One million Britons using food banks, according to Trussell Trust

One million Britons using food banks

Huge surge in number of families dependent on emergency food aid
Excavation at Italian cafe to fix rising damp unearths 2,500 years of history in 3,000 amazing objects

2,500 years of history in 3,000 amazing objects

Excavation at Italian cafe to fix rising damp unearths trove
The Hubble Space Telescope's amazing journey, 25 years on

The Hubble Space Telescope's amazing journey 25 years on

The space telescope was seen as a costly flop on its first release
Did Conservative peer Lord Ashcroft quit the House of Lords to become a non-dom?

Did Lord Ashcroft quit the House of Lords to become a non-dom?

A document seen by The Independent shows that a week after he resigned from the Lords he sold 350,000 shares in an American company - netting him $11.2m
Apple's ethnic emojis are being used to make racist comments on social media

Ethnic emojis used in racist comments

They were intended to promote harmony, but have achieved the opposite
Sir Kenneth Branagh interview: 'My bones are in the theatre'

Sir Kenneth Branagh: 'My bones are in the theatre'

The actor-turned-director’s new company will stage five plays from October – including works by Shakespeare and John Osborne
The sloth is now the face (and furry body) of three big advertising campaigns

The sloth is the face of three ad campaigns

Priya Elan discovers why slow and sleepy wins the race for brands in need of a new image
How to run a restaurant: As two newbies discovered, there's more to it than good food

How to run a restaurant

As two newbies discovered, there's more to it than good food
Record Store Day: Remembering an era when buying and selling discs were labours of love

Record Store Day: The vinyl countdown

For Lois Pryce, working in a record shop was a dream job - until the bean counters ruined it
Usher, Mary J Blige and Will.i.am to give free concert as part of the Global Poverty Project

Mary J Blige and Will.i.am to give free concert

The concert in Washington is part of the Global Citizen project, which aims to encourage young people to donate to charity
10 best tote bags

Accessorise with a stylish shopper this spring: 10 best tote bags

We find carriers with room for all your essentials (and a bit more)
Paul Scholes column: I hear Manchester City are closing on Pep Guardiola for next summer – but I'd also love to see Jürgen Klopp managing in England

Paul Scholes column

I hear Manchester City are closing on Pep Guardiola for next summer – but I'd also love to see Jürgen Klopp managing in England