Inshuu Cheer Girl (“Lewd Scent Cheer Girls”) [English], by Ao Madousi
Ew, yikes >_<
I don’t mind if that’s your fetish, but me, I felt strong repulsion – to make an understatement.
It’s the story of a disgusting, creepy, filthy, gross otaku, with a fetish for cheerleaders and their panties. When caught red handed stealing a fresh stock of panties by two cheerleaders, for some alien reason, he exerts a strong fascination over them, and bam, they’re having sex and the two girls are capticated by his cock ¯\_(°_o)_/¯
Let’s present it that way: every page in which the male MC doesn’t show his face or manboobs is worth it, the two girls are great, at least, and there’s very little censorship, it’s got to count, hasn’t it?
Release credits are for Desudesu, commissioned by Wreckthatchick, thank you!
By the same artist, I also share Smile And Peace, Gohoubi Time + Zoku Gohoubi Time and Houkago LoveHokenshitsu.
And now, the download & gallery links 
Open the Complete Pictures Gallery
Download the Free Hentai Manga in a Zip file
(36 MB, 30 pictures, English)
Or you can also use the Alternative:
Zip Mirror #1 – or – Zip Mirror #2 – or – Zip Mirror #3
Personally got as far as page 10 before I just couldn’t continue. Maybe artist was poking fun at the stereotypical real-life ‘otaku’ who might behave in such a manner as was depicted in the story, but my personal conclusion, based on my cut-off point, is:

About that, I think the gist is, simply, that the mangaka was catering to a different audience: the ugly greasy otakus.
I’ve got nothing against the greasy ugly guys, if they find porn in which somebody like them is a sex god, good for them.
It’s something I experience myself, I love it much better when a male protagonist, in porn, resembles me enough. In videos (not hentai), when the man is muscular like a bodybuilder or has a 30 centimeters dick, bah, it’s so alien to me, I just can’t identify. Or the skin colour, if the male actor is black, I move on, I can’t identify either.
I imagine the same must go with hentai, there must be a proportion of the potential buyers who can’t enjoy it if the male protag isn’t ugly, greasy and gross like themselves.
Needs an anal tag, possibly a vomit-inducing one as well.
The first half grossed me out, then the second half left me confused. It was like watching The Fly parts 1 and 2.
Once upon a time, when it was possible to suggest tags, someone suggested “CRUNCHY FROG” (those who know the term will understand).
http://www.korsgaardscommentary.com/wp-content/uploads/2014/07/Monty-Python-Crunchy-Frog-chocolates-500×272.jpg
Seems appropriate for this one IMHO.