The Glazers have consistently rebuffed any suggestion of a sale but that hasn’t put off the the Red Knights. The charge is being led by Jim O’Neill, chief economist at Goldman Sachs; Mark Rawlinson, a partner at Freshfields and Paul Marshall, co-founder of Marshall Wace, the hedge fund.

The Times: THE Red Knights consortium is putting the finishing touches to a £1.25 billion bid for Manchester United that could lead to a formal offer next month.

Last week the group met to sign off on the structure of the bid, which will draw on funds from wealthy individuals and rank-and-file fans. This week it will present the idea to a group of about 50 private investors.

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It is understood that the Knights will attempt to raise an initial £500m from 50 high-powered fans of the Old Trafford with a further £250m share issue to fans to follow. The £500m bond issue taken out by the Glazers is expected to remain in place.