THE Glazer family yesterday declared themselves “avid Manchester United fans” as they neared completion of their £790 million takeover of the world’s richest football club. Setting out the broad terms of their offer, the Glazers highlighted their pedigree as owners of a successful sports franchise in the Tampa Bay Buccaneers, the American football team they bought in 1995 and took to the Super Bowl title in 2003.

Among six ways they had improved the performance of the once struggling NFL team, the Glazers cited investment in the stadium, squad and the ability to attract sponsorship. Joel Glazer, son of Malcolm, said: “We are long-term sports investors and avid Manchester United fans. Our intention is to work with the current management, players and fans to ensure Manchester United continues to develop and achieve even greater success.”

At the close of trading yesterday, the Glazers had acquired 74.8 per cent of United’s equity through Red Football, a UK private limited company set up to make the offer, bringing them close to the 75 per cent needed to delist from the London Stock Exchange. At the present rate of acceptance, before the formal offer document had been posted to shareholders, the deal is all but wrapped up. Most financial institutions are expected to sell for 300p a share in cash, a 13.2 per cent premium to the closing price on Wednesday, as supporters rally to secure a minimum 5 per cent stake. At that point, fans could launch a lawsuit to stop Glazer taking the club private.

The protests against the club’s new owners are expected to continue and could disrupt the FA Cup Final next weekend, when United are playing for their only piece of silverware this season. A statement from the Manchester Education Committee, a radical group of fans who wear balaclavas and have burnt American flags, is expected today. In an effort to appease disgruntled supporters, the Glazers acknowledged United’s fan base as one “ which embodies the passion and excitement of the world’s most popular sport”.

To fulfil their long-term plans, they will need full stands. The Glazers also released further details of their financing plan, which failed to gain the support of the United board. The family have United shares worth £272 million.

The balance is made up of £275 million, raised through the issue of preference shares against their private assets, and a £265 million loan from JPMorgan, the American investment bank.

The bank loan is the only debt that will sit directly on the club’s balance sheet. The capital structure is designed to allay fears that the club will be overly indebted. Debt is a hot topic in football and there was a timely reminder yesterday from Uefa, European football’s governing body, that it plans to approve tougher licensing rules in September that would give it the power to prevent heavily indebted clubs competing in its competitions from the 2007-08 season. The Glazers emphasised their position as “long-term” investors in sport.

To increase the value of the United brand, they will need time. While the club have an estimated 50 million fans worldwide, only 10 per cent of their £170 million turnover is generated outside the UK. The Glazers consider the American market to be particularly underexploited.

United board members have given little indication of whether they intend to take up the Glazers’ offer to remain at the club. David Gill, the chief executive, will at least see the takeover through to completion, but, having been an opponent of the Glazers’ business plan, he would look hypocritical to try to implement it.

A purchase of shares by Gill and Nick Humby, the finance director, in the market yesterday was connected to the company’s sharesave scheme and not an indication of their mood, Old Trafford sources said. The club directors hold a key percentage of shares that could tip the balance of the bid. Maurice Watkins, the club lawyer and former board member, owns nearly 2 per cent and would earn £15 million if he sold them.