GLAZER UPS HIS STAKE

Malcolm Glazer has increased his stake in Manchester United to 27.63%.After splashing out £45million late on Friday to take his stake in the United to 25.3%, Glazer spent another £17million yesterday afternoon to seal another six million shares.

The purchase takes Glazer to within touching distance of major shareholders John Magnier and JP McManus, who own 28.9% of the club through their Cubic Expression investment vehicle, and not much further off the 30% required to trigger a full takeover bid.

It is a further show of strength from the owner of the Tampa Bay Buccaneers NFL franchise, who is clearly not intending to give up on his United takeover dream even though Cubic, whose support he needs to complete a deal, have broken off contact.

Glazer has launched an aggressive pursuit of available stock since news that talks with Cubic had broken down was made public.

His latest move has seen him reach a crossroads over whether to launch a formal bid for the club, or inform the Takeover Panel he is not ready to do so, which would preclude him from making an offer for another six months.

SU have written to the board of the PLC.

'This affair cannot but be damaging to the business of the company and harmful to the interests of Shareholders United members as well as other shareholders in the company,' outlined SU chairman Nick Towle in his letter to Gill.

'The recent share purchases by Glazer do not clarify anything for shareholders, it only intensifies the impression of a company `under siege'.

'We therefore expect the Board in the next few days to request the Takeover Panel to impose a deadline for Glazer to `put up or shut up' in order that this damaging affair be resolved as quickly as possible.'

Under Stock Exchange rules, the Takeover Panel can only impose a deadline on Glazer if instructed to do so by United.

SU feel the failure to take such action would effectively tell Glazer the club would welcome the kind of formal approach so feared by the fans.