After a two-year quest, Malcolm Glazer gained control of the world's richest soccer team.
Despite bitter resistance from fans, the American owner of the NFL's Tampa Bay Buccaneers became the majority shareholder of Manchester United on Thursday.
His ownership reached 56.9 percent after buying a 28.7 percent share held by Irish racehorse owners J.P. McManus and John Magnier.
Glazer offered 300 pence (US$5.58; 4.40 euros) per share as part of his ?790.3 million (US$1.47 billion; 1 billion euros) bid for the storied club. He bought his first stake (2.3 percent) in the team in March 2003.
Financial analysts said the deal seemed certain to succeed, and suggested Glazer's ownership could quickly reach the critical 75-percent threshold. At that level, he could take the club private.
Late Thursday, the BBC reported Glazer reached the 70 percent owenership level, without giving detail.
United share prices rose 13 percent to 298.75 pence (US$5.57; 4.38 euros) on news of the sale.
"The stake held by the Irishmen was always going to be the key to the bid," said Roy Kaitcer of Manchester stockbrokers Brewin Dolphin Securities. "He obviously has a great platform to start his bid.
"Once other shareholders see what has happened, they will say they better take that as well. It looks like Mr. Glazer is on his way to owning Manchester United."
Added Professor Bill J. Gerrard of Leeds University Business School: "He now controls the destiny of Manchester United. It's as simple as that."
Opposition to the takeover was swift, with several thousand fans gathering outside Old Trafford stadium to protest, and burning in effigy the image of Glazer.
English fans fear Glazer will raise prices, and sell off key assets like Old Trafford. They also resent foreign ownership of the tradition-steeped English club.
"I'm giving up my season ticket," said Shareholders United president Nick Towle. ``I'm not putting a penny of my money into this guy's pocket.
"I'm very sad. It's a really sad day for Manchester United, for the supporters, for the whole club, and I think it's a sad day for football in general."
Shareholders United represents 17 percent of the club's stockholders, a number estimated at 20,000. Towle said at least half -- and maybe all -- would give up their tickets and stop attending games.
Former team manager Tommy Docherty described the reclusive Glazer as a man "who knows nothing about football."
"Manchester United's heart and soul has been sold today," he said. "It has changed forever today."
English media reported Glazer has never been to Manchester or visited Old Trafford.
In a report in February by British accounting firm Deloitte summarizing revenues for the world's top soccer clubs, Manchester United was listed No. 1 for the 2003-2004 season at US$311 million (259 million euros).
Spain's Real Madrid was No. 2 at US$283 million (236 million euros), followed by Italy's AC Milan, Chelsea of England, and Juventus of Italy.
With a game left, Manchester United is 20 points behind champion Chelsea and nine behind runner-up Arsenal. Glazer's move came just before Manchester United's May 21 FA Cup final against Arsenal, its only chance for a trophy this season.
Cagliari and Inter Milan traded second-half goals two minutes apart and drew 1-1 their first-leg semifinal of the Italian Cup Thursday.
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