Glazer raises stake in Man United

United fans demonstrated in the City of London against Glazer's takeover

US sports tycoon Malcolm Glazer has raised his stake in Manchester United to 25.3%.

This purchase is not necessarily a prelude to a bid but does confirm that Mr Glazer is a long-term investor, one of his associates told the BBC.

Earlier, the club said talks between Mr Glazer and Irish race horse owners John Magnier and JP McManus - owners of 28.9% of the club - had broken down.

Shares in the club closed the day almost 8% higher to stand at 285p.

Late on Friday - and after rumours had swirled all day - Mr Glazer confirmed that he had purchased 15.4 million shares at 285 pence.

In a statement earlier in the afternoon, Manchester United said there had been "no definitive proposal" for a takeover bid from US tycoon Malcolm Glazer.

Will he, won't he? Glazer keeps the market guessing

Manchester United's board said it had itself held talks with the Glazer family but that no bid had been forthcoming.

The board said that the Glazer family was continuing to consider its options in relation to its 19% shareholding.

There was speculation that Mr Glazer had offered £3 a share to buy the Irish pair's 28.9% United stake and launch a takeover bid for the club.

Protection

We'll fight anyone who wants to take control of the club Ian Stirling, Red Action Group Q&A: Malcolm Glazer and Man United Man United fans' plea to the board Check Man Utd's share price

Manchester United announced on 4 October that it had received a takeover approach and it was rumoured that Mr Glazer was sporting an £800m war chest to secure the club. It has since been confirmed that Malcolm Glazer was indeed the man behind the bid.

The prospect of a takeover angered fans and they were spurred into taking action to try and prevent Mr Glazer taking over the club.

The groups now plan to lobby chief executive David Gill in an attempt to boost their current 1.4% stake in the club to 10.1%. Fans hope that this would give them a greater say in how the club is run.

Supporters have been calling on the club's major sponsors to help ring-fence shares to stave off further takeover threats.

Protests

Manchester United fans gathered in London on Friday in order to drive home the message that the club was "not for sale".

About 30 chanting supporters met at the offices of investment bank JP Morgan, which had been advising Mr Glazer, before marching to the London Stock Exchange.

"We are taking our message to the City, where shares are bought and sold, that Manchester United is not for sale," said Ian Stirling, of the Red Action Group, a group of Manchester United fans.

"We'll fight anyone who wants to take control of the club," he said.

"We won't rest until the fans are in control."