Glazer ownership announcement due

Malcolm Glazer's triumphant bid to buy the club has riled fans

US tycoon Malcolm Glazer is expected to announce on Tuesday whether he has passed the threshold required for total ownership of Manchester United.

The deadline for minority shareholders in the club to sell their shares to its new owner passed on Monday afternoon.

Unless they took up his invitation to sell shares at £3, they effectively will lose financial value when the club is delisted from the stock exchange.

According to a Reuters report Mr Glazer had 89.7% of shares on Monday.

The Glazer family, via its Red Football bid vehicle, has already taken control of United by owning at least 75%.

Done deal

If they reach 97.5% the family will have the right to force a compulsory purchase of any remaining shares, most of which are in the hands of loyal Man United fans who have promised to fight the US tycoon to the final whistle.

TIMELINE OF A TAKEOVER March 2003 - Glazer buys 2.9% stake in club March 2004 - Glazer says he has "no current intention" of making a bid June 2004 - Glazer's stake in club nears 20% October 2004 - United confirms bid approach from Glazer, as his stake nears 30% November 2004 - Glazer ousts three directors from United's board December 2004 -Glazer makes revised bid February 2005 - He makes new bid approach, valuing United at £800m, the club later opens its books to the tycoon 14 April 2005 - Glazer moots £800m bid for club 28 April 2005 - Takeover Panel sets 17 May deadline for Glazer to announce whether he intends to buy United 12 May 2005 - Glazer launches formal takeover bid for United after upping his stake in the club to almost 57% 23 May 2005 - Glazer says he owns 76.21% of the club. 26 May 2005 - Board advises shareholders to accept bid 13 June 2005 - Deadline for bid acceptances Record ticket sales at Man U

Pressure group Shareholders United (SU) is threatening to take court action to "make life difficult" for the Glazers.

"If he gets to less than 95% then 5% of shareholders can go and take him to court to block the special resolution to take the company private," said Shareholders United chief Nick Towle told the BBC.

"He certainly gets control of the company and will certainly end up with more than 90%, that is my guess."

Shareholding fans have been particularly concerned about the high level of debt involved in the controversial deal.

More than one-third of Mr Glazer's £790m offer is being secured against United's assets, such as its Old Trafford stadium.

A further £275m will come from loans from three US hedge funds.

Mr Glazer made his formal offer to the Manchester United's shareholders on 12 May after taking his holding to 76.2% and the company's board accepted his offer.

Debt doubts

Man United's board said the deal represented good business, despite holding reservations over whether the bid was in the "best interests of the company".

I would not be surprised if a number of other club shares are not eventually delisted... to be honest, most football shares have done pretty badly Harry Philp, Inner Circle Sports How are football shares faring?

Malcolm Glazer has since said there will be no dividends to any remaining shareholders - making their stakes effectively worthless.

Mr Glazer's plans for the club are also believed to include raising its revenues by 52% by 2010, meaning that ticket prices at about £30 could rise to about £45.

His offer document also pointed towards the removal of Man United shares from the London Stock Exchange on 22 June.

If that happens, then fans will have no further comeback against the Glazer family.

Meanwhile, they are continuing to build a "phoenix fund" for supporters to pour cash into received from selling their shares to Red Football.

Shareholders United hopes the fund will have enough money to invest in the club if the Glazer family relinquishes control in the future.

"We want to show him we are not going to roll over and die," said SU's Nick Towle.