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Glazer takes full control of Man Utd

28th June 2005

American billionaire Malcolm Glazer has secured a 98 per cent share in Premiership giants Manchester United, enabling him to take full control of the club.

By reaching the 97.6 per cent figure, Glazer has now passed the threshold required to force a compulsory purchase of the remaining five million shares not already under his control.

Glazer, through his Red Football Limited bid vehicle, became the majority shareholder of the club on May 16 in a £790m ($1.5bn) takeover.

On June 22, Glazer delisted Manchester United from the London Stock Exchange, ending the clubs 14-year stint as a publicly traded company.

Fans of Manchester United have vowed to continue their protests against Glazer, who they believe will saddle the club with too much debt.

Glazer has borrowed £265m to fund the deal, set against the club's assets - and has a further £275m in other loans.

But with Glazer taking full control supporters will have no choice but to accept the deal.



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