US tycoon's stake building sparks Man Utd bid fever

Speculation of an imminent takeover bid for Manchester United will hit fever pitch today after it emerged that one of the US's most prominent sports tycoons had snapped up a £9m stake in the football club.

Malcolm Glazer, owner of the reigning Super Bowl American football champions, Tampa Bay Buccaneers, secretly acquired a 2.9 per cent holding, it emerged over the weekend.

He becomes the latest in a line of sports and media magnates to buy a slice of the Premiership team that is one of the strongest sports brands in the world.

The disclosure will add to speculation that has already help drive its share price 10 per cent higher since the start of the year.

It raises the prospect of either a transatlantic takeover or closer commercial marketing links between the two sporting operations.

Sources at the company said there had not yet been any meetings with Mr Glazer or his advisers and that it was too early to be talking about possible marketing joint ventures.

The financial gains for Manchester United's small investors may help dull the pain from yesterday 2-0 defeat by Liverpool in the Worthington Cup final.

A spokesman for the FTSE 250 listed company confirmed that Mr Glazer had taken a stake. As it was below the 3 per cent level that triggers a stock exchange announcement, the company used the Companies Act to discover his identity.

Last week an investment firm behind John de Mol, chairman of Dutch TV production company Endemol and the man behind the reality TV show Big Brother, confirmed he had built a stake of up to 2.5 per cent.

The Irish billionaire Dermot Desmond last month built a 2 to 3 per cent share in the club. Mr Desmond's horseracing friends JP McManus and John Magnier own 8.6 per cent of the club through their company Cubic Expressions.

A Manchester United spokesman said the club have not had any formal or informal approaches that might lead to a takeover bid. Neither Mr Glazer nor Mr de Mol is believed to be acting on behalf of other investors, he added.

The company's advisers recently held a roadshow among potential investors in a bid to convince them the stock is undervalued. Its market value has tumbled from £2bn at the peak of the mania in sports and media shares to just under £300m now.

Mr Glazer controls First Allied Corporation, a £1bn US property company. He bought the Buccaneers eight years ago for about £120m and it is now valued at up to £500m.