Glazer up to 98 per cent ownership

Malcolm Glazer has increased his stake in Manchester United to 98 percent.

The owner of the Tampa Bay Buccaneers NFL team has now passed the threshold required to force a compulsory purchase of the remaining five million shares that he does not currently own.

Glazer won control of the club last month with a cash bid at 300 pence per share which valued United at £796 million.

But Mr Glazer, who took over United in a £790m buyout, is keeping open his £3 a share offer to investors for the time being.

“Red owns or has received valid acceptances of the offer in respect of a total of 259,950,194 Manchester United Shares, representing approximately 98.0% of the issued share capital of Manchester United,” Mr Glazer’s representatives told the London Stock Exchange.

“The offer will remain open for acceptance until further notice.”