Bucs owner Malcolm Glazer is not trying to take over Manchester United, the world's most valuable pro sports franchise, the English soccer club's chief executive officer told the Guardian newspaper.
Glazer increased his stake in the club to 14.3 percent, fueling speculation he may make a takeover bid. The 75-year-old Glazer's holding is 37.4-million shares, Manchester United said. But the team's CEO, David Gill, who flew to the United States to meet with Glazer last week, is confident Glazer has no takeover aspirations, despite receiving no specific commitment.
"I'm not worried," Gill told the newspaper. "We had a good long period with Malcolm Glazer and his two sons. ... There has been no discussion about his intentions for the future."
The team's shares have more than doubled this year as investors including Irish entrepreneurs J.P. McManus and John Magnier, as well as Glazer, have increased their stakes. The company's largest shareholder, an investment company owned by McManus and Magnier, last month boosted its holding to 23 percent. The company's market value is about $1.17-billion.
