"We should know how successful this campaign will be within three weeks of the letters going out," said Towle.
"I am confident because the numbers we need are relatively not that great. We have two per cent of shares under the SU umbrella already, so we are only looking for another three to four per cent, which equates to around £40m. It may seem a lot but if we can get one or two major backers on board quite quickly, the rest should follow. This is a genuine attempt to safeguard the future of Manchester United. Fans have to look at it and ask themselves whether they are prepared to step in with the cash now, or spend it anyway over the next few years when Glazer puts ticket prices up."
"Shares can still be bought or sold even after a takeover bid has been lodged," he said. "We will press ahead with our plans once we have had the opportunity to gauge the level of support for them. I don't believe Malcolm Glazer has any option but to keep going forward because of the losses he would incur if he stopped."