 Promoted to the board a few days after the Munich air disaster, Louis Edwards, a friend of Matt Busby, began acquiring shares in the club; for an investment of approximately £40,000, he accumulated a 54 per cent shareholding and took control in January 1964.When Lillian Gibson died in January 1971, her shares passed to Alan Gibson who sold a percentage of his shares to Louis Edwards' son, Martin, in 1978; Martin Edwards went on to become chairman upon his father's death in 1980.Media tycoon Robert Maxwell attempted to buy the club in 1984, but did not meet Edwards' asking price.