By City Correspondent
May 12 2005

Malcom Glazer has accquired 62 % of Man U shares today. Having bought 29% from Magnier and McManus. The Coolmore Mafia could not resist making £70million profit - a nice little earner even by bookie standards.

It is likely that the rest of the large shareholders will collapse like a pack of cards, on being faced with the chance of making a killing. Glazer could own 90% + 1 by the end of the week, or month at latest. Even without 90% he has effective control and can decide who runs the club.

There is no love lost between Arsenal and Man U fans, but this is no time for a tribal response - Glazer will not only be a disaster for Man U but the Premiership as a whole. Glazer will want to get his money back, and that means squeezing TV revenues. The Arsenals and Chelseas might be able to resist, but it could be very bad news for the rest of the Premieship. There will probably be high ticket prices for away fans.

Unfortunately this bid cannot be referred to the Competition Commission like the Sky bid. Its not likely that he can be stopped now. However if Man U fans can stop him it will be for the good of the Premiership. They are demonstrating and threatening a boycott of season tickets, plus burning an effigy of Glazer. They won't buy the merchandise either.

Man U fans are threatening a break away club Wimbledon style if he does succeed.

STOP PRESS

Glazer is now believed to have 70% of all shares, and it could be 75% in days. That will mean he could delist the PLC and have unfettered control. Another 15% + 1 will mean he can force out all other shareholders.