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When the phone call from Rothschild came through on Tuesday afternoon, the Irish duo were as surprised as anyone. Despite the fervent speculation about their attitude to their 28.7% stake of one of the world’s most famous football clubs, they had had no contact with Glazer’s camp since last year. And time was running out if they were to cash in on a potential £92m profit. The Takeover Panel’s deadline for Glazer to bid for the club was just a few days away.

Should they sell out for £227m and incur the wrath of United’s fans, or hold on to their stake but watch the value of their investment plunge? In the end, money talked. They gave Glazer 24 hours to come up with the cash. The American made it with two minutes to spare.

A source close to the duo says they are worried that angry fans may attack them or their horses and they have stepped up security. But they, too, think the fuss will soon die down. “It’s a straightforward business transaction; they never wanted to run the club,” said the source. “This is a public company, they get bought and sold.”

The big question for United, its fans and Glazer is what happens next. The Irish duo have speculated to friends that Glazer may “flip” United — selling out in a year. But the American’s camp says he is in for the long term.

GLAZER is a controversial figure — a judge once described him as “a snake in sheep’s clothing”. He is unlikely to show up at Old Trafford in the near future. His son Joel is likely to be the family’s representative at United and his first job will be to service the £540m of debt the takeover brings to the until recently debt-free club.

First he must ensure the fracas about the takeover is ended. Brand Finance, the consultant, said most of the club’s £800m value was made up of intangible assets, the most important of which is the trademark and associated goodwill, commonly referred to as “the brand”.

It values the United brand at £225m, based largely on the club’s commercial activities off the field — including merchandising and sponsorship deals. The club’s deal with Nike is worth £303m over 13 years and the Vodafone deal is worth £36m over four years.

After the club’s recent lacklustre performance on the pitch, the consultant reckons United is worth about £700m. That would suggest Glazer has overpaid by £100m. However, if he can strengthen the brand globally (particularly in the US and China) to enhance revenue and earnings, Brand Finance estimates the value of the business could increase to £1 billion over the next three years.

Dick Greco, former mayor of Tampa, said many people thought Glazer had overpaid when he bought the Bucs. The United fans’ anger reminds him of the reaction to Glazer’s arrival at the Tampa Bay club.

“I’m not surprised he’s got it. He’s the most tenacious man I have ever met. And I understand where the hostility comes from. He’s not a sports guy, he doesn’t know a thing about soccer. But he must see a lot of value in that club that isn’t being realised. Malcolm will do everything in his power to make sure that team works financially and the team will prosper because of that.”

Glazer’s sister Marcia Shapiro said her brother was the only person who would benefit from the takeover: “He’s interested in himself, not the club. It’s all about his ranking in Forbes’ rich list. Now that he owns Manchester United he’ll be fifth or sixth instead of 44th or whatever he is now.”

Glazer is in fact 584th on the US magazine’s annual rich list, with a fortune of $1.1 billion — equal with Roy Disney, heir to the Mickey Mouse fortune.