Malcolm Glazer has increased his stake in Manchester United to 98 per cent and now has the power to buy out the club's remaining shareholders.
Glazer's company, Red Football, told the London Stock Exchange yesterday that he had passed the 97.6 per cent threshold needed to make a compulsory purchase of all shares in the club.
All investors who have not sold out to Glazer will be forced to do so unless they accept his offer.
Glazer, owner of the Tampa Bay Buccaneers National Football League team in the United States, became majority shareholder of the world's richest soccer club on May 16 in a 790 million ($2.06 billion) buyout - most of it with borrowed money.
Although major fans' groups have pledged to oppose Glazer and have even set up a rival club called FC United, Glazer's latest announcement leaves them with little chance of getting any kind of say in how United are run.
Glazer has installed his sons, Joel, Avi and Bryan, on the board of directors at Old Trafford.
Last week, Manchester United was taken off the London Stock Exchange after 14 years on the market.
Soccer: Glazer increases Man Utd stake to 98pc
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