100% ownership of manchester united-Glazers family

Manchester United have
told the Premier League
the Glazer family still
owns 100% of the club.
There had been speculation
the American owners may
have sold a significant stake
to pay off their controversial
£220m PIK (payment in kind)
loans.
Doubts grew after the
Glazers set up a new parent
company registered in
Delaware, where there is no
requirement to reveal details
of ownership.
A club spokesman told BBC
Sport: "There has been no
change of ownership."
However, the repayment of
the PIKs , which were first
borrowed at the time of the
Glazer takeover in 2005 and
accumulated punitive interest
rolled up year on year,
raises more questions than it
answers.
And fans' groups now want
to know if the Glazers have
simply replaced one form of
expensive debt with another
that is concealed by the
transfer of the ultimate
parent company, Red Football
LLC, from Nevada to
Delaware.
With persistent reports
linking United with a sale to
the Qatar royal family, there
is also the possibility that
the Glazers have sold an
option on the future sale in
return for the money to pay
off the PIKs.
But the club have repeatedly
insisted that the Glazers
have no intention of selling
United.
The move to pay off the PIK
loans last November
surprised their critics and
removed one of the biggest
financial questions hanging
over the Glazer business
model.
Many had expected the
family to exercise a right,
included in their £500m bond
refinancing last year, to use
£70m of club revenue to
start paying off the PIKs.
Instead the Glazers issued a
voluntary free payment
notice informing the holders
of the PIK loans that they
would be paying up in full -
leaving doubts over where
they had found the money