Soccer: Glazer 'plans new bid for Man United'

LONDON - US tycoon Malcolm Glazer has told the board of English Premier League soccer club Manchester United he plans a new £800 million ($2.2 billion) takeover offer, a source familiar with the matter said on Sunday.

The source said representatives of the billionaire owner of the Tampa Bay Buccaneers American football team had said the new offer would consist of more cash and less borrowing than his previous proposal.

The last offer was rejected by Manchester United because it would have left the football club deeply in debt.

Manchester United and representatives of Glazer declined to comment.

Glazer's attempt to purchase Manchester United was thrown into doubt last month when his banker, J.P. Morgan Chase & Co., resigned after Glazer insisted on using his 28 per cent stake to vote against the re-election of three of the club's directors.

Manchester United has said it wants to sit down with its two largest shareholders, Glazer and Irish horseracing magnates J.P. McManus and John Magnier, as soon as possible to thrash out an agreement on ownership of the 126-year-old club.

- REUTERS