SHARES in Manchester United raced ahead a further 123\/4p to 2473\/ 4p as punters scrambled to get aboard on hopes that American football tycoon Malcolm Glazer will launch a bid, writes Justin Harper.<\/p>\n
He was in the market again and appears to have lifted his stake at least to 7.5pc, paying up to 250p a share.<\/p>\n
Irish punters JP McManus and John Magnier will be kingmakers in any bid.<\/p>\n
They paid 62m for the 9.9pc BSkyB stake in United yesterday morning.<\/p>\n
That took their Cubic Expression company’s stake to 23.15pc and they may have bought more in the afternoon. They can go to 29.99pc without being forced to make a full bid.<\/p>\n
A hectic 36.9m shares were traded and though Sky and hedge fund Lansdowne Partners took profits, others were just as keen to get aboard.<\/p>\n
The share surge was bad timing for United chief executive David Gill and finance director Nick Humby. They collected their annual bonus shares yesterday. Gill bought 16,881 and Humby 11,535 at 245p. Last week they would have got them 50p cheaper.<\/p>\n
The latest buyers have been paying up to 250p and appear cocksure that someone will take them out at a profit.<\/p>\n
Until this week, McManus and Magnier’s average price was under 120p.<\/p>\n
Though fans of Chelsea owner Roman Abramovich are suggesting that another Russian oligarch might bid, the firm favourite is Glazer, owner of the Tampa Bay Buccaneers football team in Florida.<\/p>\n
A source said: ‘Glazer is worth 1bn so he definitely has the resources.’<\/p>\n
Some traders tip US sportswear giant Nike to bid. With a market value of 10bn, Nike could easily afford it, but it has never bought a sports team.<\/p>\n
Last night, United was valued at 244m. Analysts find it hard to justify a value above 2 on trading grounds.<\/p>\n
But those now snapping up the shares are looking to United’s potential to grab a greater slice of football’s TV revenue and to sell more to its huge network of supporters.<\/p>\n","protected":false},"excerpt":{"rendered":"
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