SHARES in Manchester United soared to a three-year high today after a mystery buyer landed a 4.5% stake in the Premiership club for 31.5 million.
The acquisition of the stake, 11.88 million shares at 265p each, is the latest turn in a frenzied merry-go-round of stakebuilding by tycoons from four countries. United shares rose 11p to 260p on the news. Initial reports that the buyer was Mehmet Dalman, the multimillionaire London head of Commerzbank and an avid United fan, were said to be wide of the mark.
Commerzbank said it brokered the deal but that the transaction had been “on behalf of a client”. It refused to make further comment.
Dalman’s clients have in the past included Keith Harris, the City financier and former boss of the Football League who has long been held to covet a seat on the board of United. Other Dalman clients include Richard Desmond, the owner of Express Newspapers. City dealers were also reporting speculation that Guy Hands, the multimillionaire financier behind a string of pubs and hotels deals, has expressed an interest.
Five shareholders have enough to stock to have been sellers in the deal.
Irish horseracing tycoons John Magnier and JP McManus have a joint 23.1% stake. American football magnate Malcolm Glazer has spent the autumn building up a holding of nearly 10%. Scottish mining millionaire Harry Dobson has 6.5% while Dutch television entrepreneur John de Mol has a 4% stake. Hedge fund Lansdowne Partners has 4%.
