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.”