Don't give up shareholders urged

Supporters' trust Shareholders United intend to turn the screw on the American tycoon, however, and hit him in the pocket.

Spokesman Oliver Houston said: "One likely course of action is for fans, who are estimated to own more than 15% of plc shares, to take Glazer's money.

"That would thereby increase his borrowing requirements and allow fans to invest it in Shareholders United's new high-interest Reclaim United 'Phoenix Fund'."

United's board say it is not in anyone's interests to keep small shares as the Tampa Bay Buccaneers owner moves closer to taking the company private.

However, Shareholders United say they will continue with their campaign of "collective resistance."

Houston said: "We are encouraging 30,000 private shareholders as well as 35,000 of our own members to each retain a single share in a symbolic act of defiance.

"That will allow them to attend the forthcoming extraordinary general meeting that Glazer will soon have to call in order to take the company private and transfer his debts onto United's books."