Glazer May Try To Oust United Directors - 06/11/2004

Malcolm Glazer may oppose the re-election of United directors at next week's annual meeting. His move would be in retaliation for the board's refusal to have talks with him over a proposed takeover of the club. The directors up for re-election include Maurice Watkins, a non-executive director who provides legal advice to the club, and Andy Anson, United's commercial director. Glazer has also made a new attempt to secure the shares held by Irish racing tycoons, J P McManus and John Magnier, which would give him majority control. Talks with the Irish racing tycoons broke down because there were too many conditions attached to the bid, but Glazer has now removed a condition related to his need to secure acceptances from 75 per cent of United shareholders. He now just wants a week of due diligence from the United board. United supporters opposed to the Glazer bid also received a boost with the news that Well, Gotshal and Manges, an international law firm, will provide legal advice on a pro bono basis to Shareholders United. Will Rosen, London partner of the law firm, said: 'Many football fans are concerned with the trend towards big business buying clubs as commercial investments with scant regard for the traditions and social functions of these clubs.'