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United fans organizing products boycott
Manchester United fans have already burned effigies of the club's new owner, American Malcolm Glazer. Now they're planning to vent their anger by boycotting the club's sponsors. "We are hoping to put a stranglehold on Glazer's income stream and pressure the sponsors," Oliver Houston, vice chairman of Shareholders United, said Friday. About 3,000 fans are expected to take part in an anti-Glazer protest Monday, an indoor rally organized by a coalition called the "Reclaim United Campaign."
"We are not telling supporters to make the ultimate sacrifice and stop going to games," Houston said. "But we are asking them not to buy any merchandise; don't buy any pints of Budweiser, any glasses of Pepsi, any videos, any programs." Glazer, the owner of the Tampa Bay Buccaneers, has acquired a 76.2 percent stake in Man United as part of a $1.47 billion takeover of the club. He is offering to buy out the remaining shareholders. Glazer told the London Stock Exchange this week he hoped to take the club's shares off the market on June 22 "or as soon thereafter as is practicable." About 65,000 individual shareholders hold 15 percent of the club's outstanding shares. About 35,000 are members of Shareholders United. Shareholders United is urging members to sell all but one of their shares to Glazer. It is also encouraging them to deposit the payout in a newly established fund, called the Phoenix Fund. Houston said the fund would be used to buy back into the club if Glazer's highly leveraged takeover fails. "We are trying to tell fans what they can do, because they feel powerless," Houston said. "We want to remain defiant put more pressure on Glazer's borrowing requirements."
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