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Glazer delays Man Utd ownership update

Manchester United - No word from Glazer on shares level
Manchester United - No word from Glazer on shares level

Malcolm Glazer is keeping the football world waiting as to whether he has passed the 90% threshold needed for complete ownership of Manchester United.

Shareholders had until 3pm today to accept the Glazer family's 300p a share offer, although one report said the US party already had about 92% of shares - enough to compulsorily purchase the rest if they wished.

It is expected the family's Red Football investment vehicle will announce later tonight how much equity it owns.

The last update from Red Football showed ownership of more than 76%, although this was before the posting of a formal offer document and a subsequent recommendation from the United board that investors sell their shares.

The family already has control with 75% ownership, although fans had hoped to hold on to a sufficient number of shares so they could put pressure on Glazer, who they believe will saddle United with too much debt.

The offer document posted to shareholders last month also indicated that United shares could be removed from the London Stock Exchange on June 22, or as soon thereafter as is practicable.

Shareholders United chief Nick Towle has conceded that Glazer now controls the club, but the fans group are determined to keep fighting while even the faintest hope remains.

Meanwhile, United expect to sell a record 42,500 season tickets before a ball is kicked in August. The club have already eclipsed last year's mark of 40,072 despite a 10% average price rise.