Post by Taxigirl on Dec 8, 2003 18:09:24 GMT
Irish entrepreneurs JP McManus and John Magnier have increased their share in Manchester United and now own almost a quarter of the club.
The horse racing partners control The Cubic Expression Company Limited and United's plc said on Monday that the company had now increased its holding.
Cubic now owns 63,286,893 ordinary shares - approximately 24.24% of the issue, up from 23.15% previously.
In November US sports baron Malcolm Glazer bought a 4.5% stake in the club.
The owner of the Tampa Bay Buccaneers now owns a 14.31% chunk of Britain's richest soccer club.
Takeover talk
Speculation about a possible takeover bid for Manchester United has followed the club for months.
United's shares have risen by 150% in the last year as the takeover talk has increased.
Later this week Sir Alex Ferguson's new four-year deal as manager of Manchester United is expected to be ratified.
A legal representative of the Old Trafford boss spent the weekend pouring over the details of the contract which is estimated to be worth £4m-a-year.
Sir Alex has fallen out with his former friend, Mr Magnier, over the stud rights of their jointly-owned champion racehorse, Rock of Gibraltar.
The Manchester United boss is suing Mr Magnier in the High Court in Dublin, demanding half the fees, which could be worth up over £100m in the coming decade.
Mr Magnier and JP McManus initially increased their investment in MUFC plc in early October, when they more than doubled their share from 11.4%.
Manchester United shares rose 0.5 pence to 267p.