United is owned by the US Glazer family and listed in New York last year.
Half of the total IPO shares sold went to the Glazer family and half to the company.
Mr. Gill's tenure as chief executive also included an often contentious acquisition by the Glazer family in 2005.
Though based in Britain, Manchester United is owned by the Glazer family, headed by U.S. businessman Malcolm Glazer.
And Harris says that the time has come for supporters to buy the club back from the Glazer family.
Gill also alleviated fears that United's owners, the Glazer family, would sell Old Trafford or the club's Carrington training ground.
This is all positive news for the Red Devils, though some have doubts about the long-term financial solvency of the Glazer family.
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And a spokesman for United's owners, the Glazer family, insisted that the decision to sell Ronaldo was taken solely by manager Sir Alex Ferguson.
The Old Trafford club is owned by the American Glazer family, who oversaw the club's listing on the New York Stock Exchange last August.
Half of the shares will be issued by the club while the other half will be sold by the Glazer family, which owns the team.
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Manchester United, owned by the American Glazer family, look set to win a record 20th league title this season, holding an unassailable 15-point lead over their fierce rivals Manchester City.
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The Glazer family have said they have no intention of selling the club, while United chief executive David Gill has said he is happy with the club's current business model.
United will be left with the cost of paying this back of course whilst the Glazer family will have personally enriched themselves to the tune of hundreds of millions when done.
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Some United supporters have expressed concerns about the club's future given the amount of debt placed on the club by US-based owners the Glazer family following their leveraged buyout in 2005.
Across the city, Manchester United was sold to the American Glazer family, owners of the NFL's Tampa Bay Buccaneers, in a leveraged buyout -- essentially by borrowing money they didn't have.
So while the Glazer family is not in immanent danger of losing Manchester United the way Tom Hicks and George Gillett lost Liverpool, they do not have a lot of breathing room.
Despite the move by the Manchester United's Supporters' Trust, the Glazer family have told BBC Sport that they are here for the long-term and insisted that their interests are aligned with those of the fans.
"Nomura will work closely with the Red Knights, the Manchester United Supporters' Trust and other potential investors to co-ordinate and formulate the proposal to be put to the Glazer family, " the financiers said in a statement.
United is owned by the Glazer family, the American venture capitalists who knew virtually nothing about football outside of their love of the Tampa Bay Buccaneers, who bought the English club in an unpopular leveraged buy out.
But the strain of owning a team that competes with the likes of Russian Roman Abramovich's Chelsea, Emirates Sheikh Mansour's Manchester City and the U.S. billionaire Glazer family's Manchester United appears to be pushing 51-year-old Yeung's resources to the limit.
This is not a return to the full public-company status the Red Devils enjoyed between 1991 and 2005, when the club was taken private by the Glazer family of Florida, which also owns the Tampa Bay Buccaneers, an American-football team.
Brilliant move by the Glazer family.
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Despite winning the English Premiership for a record 19th time last week and playing Barcelona May 28 in the Champions League final, the Glazer family is still under attack from tens of thousands of Red Devil fans for the way they have run the club.
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At present, Mr Glazer and his family hold a 28.1% stake, making them Manchester United's second biggest shareholders.
Half the 16.7 million shares in the offering are being sold by the team, and half by a company controlled by Malcolm Glazer and his family.
Malcolm Glazer and other members of his family took control of Manchester United in 2005 but their purchase of the club was largely funded with borrowed money.
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