Another £17m share spree by Glazer

American tycoon Malcolm Glazer yesterday bought another six million shares in Manchester United.

The owner of the American football team, Tampa Bay Buccaneers, last week failed to buy out United's largest shareholders John Magnier and JP McManus but he has now taken his holding from 25.5 per cent to 27.6 per cent.

It is also believed that Glazer has instructed the bank, Credit Suisse First Boston, to find him the further 25million shares he needs to match the Irish duo's 28.9 per cent holding by the end of the week.

Yesterday's investment cost Glazer £17m - at 285p a share - and the purchase of another 25m shares would take his investment for the week to a staggering £90m, which would be on top of the £45m he spent last Friday.

The American's actions send a clear message to United that he is intent on buying the club - even if he has to wait to persuade the Irish to sell. Glazer can now go back to Magnier and McManus to try to reopen negotiations or he can proceed with his current approach of buying small blocks at a time.

If he does take his holding past the 29.9 per cent mark, by either method, he would be legally obliged to launch a formal bid for the club by offering every shareholder 285p for each of their shares.

Last night's news was not likely to go down well with United supporters, who have spent the last fortnight campaigning fiercely against Glazer.

His initial October 4 approach put the club into an 'offer period' for the second time this year after the earlier share purchases by Magnier and McManus.