Nomura to fund Man Utd supporters

May 02, 2005 16:58 IST

Japanese bank Nomura said on Sunday it has agreed in principle to help fund purchases of shares in Manchester United by supporters of the soccer club trying to thwart a takeover attempt by U.S. tycoon Malcolm Glazer.

Last week, the club rejected a revised 800 million pound approach from Glazer as regulators set a May 17 deadline for him to make a firm bid to shareholders.

Nomura said money would be lent to an investment trust created by the fans to buy as much as 25 percent of Manchester United shares.

A spokeswoman said the bank would lend about a pound for every pound of the soccer club's shares put into the trust.

The group of supporters is writing to Manchester United's individual shareholders to ask them to join the trust, Nomura added.

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