Fergie, the racehorse and the battle for Manchester United’s soul: inside the Glazer years at Old Trafford

An ugly falling out over a racehorse between Sir Alex Ferguson and two Irish billionaires. A high stakes summit hosted at Donald Trump’s gaudy Palm Beach resort. Two decades of furious fan hatred. In an extract from his new book, Chris Blackhurst reveals how the enigmatic Glazer brothers took control of Manchester United – and shattered its soul

The Glazers did not have the money but they had swooped in and borrowed and borrowed, using the club as security (EPA)

As if ending champions Arsenal’s 49-game unbeaten run were not enough, Manchester United supporters had more reason to celebrate at the end of October 2004 when the club rejected a possible £800m takeover by Malcolm Glazer.

In a statement to the London Stock Exchange, the United board said that it would regard an offer from the American tycoon as “not being in the best interests of the company”. The board said that it had “terminated discussions” with the club’s second-largest shareholder three weeks after first revealing a potential bid was on the table...

The fans were cock-a-hoop. Malcolm Glazer and his sons had been seen off; their swanky, uncaring City of London advisers had also gone.