Glazer challenged to prove funds
http://soccernet.espn.go.com/headlinenews?id=312920&cc=5901
Manchester United's plc board of directors have called on potential owner Malcolm Glazer to prove he is serious about a takeover.
The board want the American tycoon to prove he can come up with his reported offer of £3 per share which would value the Old Trafford club at £800million.
The 76-year-old's reported personal wealth falls short of the amount he would need to buy out the club, according to a source quoted in the Manchester Evening News.
The source, said to be close to the situation, told the Evening News: 'Glazer's people were asked for more details on the funding before anything else can progress.'
If Glazer reveals he plans to borrow against future club income in order to fund the deal the board are unlikely to recommend the takeover to shareholders.
http://soccernet.espn.go.com/headlinenews?id=312920&cc=5901
Manchester United's plc board of directors have called on potential owner Malcolm Glazer to prove he is serious about a takeover.
The board want the American tycoon to prove he can come up with his reported offer of £3 per share which would value the Old Trafford club at £800million.
The 76-year-old's reported personal wealth falls short of the amount he would need to buy out the club, according to a source quoted in the Manchester Evening News.
The source, said to be close to the situation, told the Evening News: 'Glazer's people were asked for more details on the funding before anything else can progress.'
If Glazer reveals he plans to borrow against future club income in order to fund the deal the board are unlikely to recommend the takeover to shareholders.