United says it has not received an offer for the club

MANCHESTER United has sought to dampen takeover speculation by saying it has not had any formal or informal offers for the club.

The club issued a statement to the stock exchange yesterday to end the rumour mill that has driven the share price to a three-year high after the Takeover Panel ordered the company to say if it had been approached.

Speculation has been running for the past week that Malcolm Glazer who owns 16% of the club, was on the verge of launching a bid.

On Monday he said he was considering an offer but was also looking at several other options.

“The board of Manchester United plc wishes to make clear that, as at today’s date, it has not received any approach, formal or informal, regarding a possible takeover offer for the company,” the club said in a statement.

Manchester United are more concerned about Mr Glazer’s intentions for the club, following reports that he had engaged financiers to prepare an offer, than those of Cubic Expression, the vehicle owned by Irish investors JP McManus and John Magnier.

The Irish duo own almost 29% of the club, but are said by sources not to be interested in a full takeover.

In recent days there has been pressure on the investors and the club to inform the markets of any developments and the Takeover Panel has placed United in an offer period until Mr Glazer makes his intentions clear.

United’s share price has doubled in the past year as Mr Glazer, Cubic Expression and Dermot Desmond have bought into the club but the shares closed down 1% yesterday at stg£2.68.