Red Knights reveal plans to buy Manchester United

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Worried by the club's massive debts of £716million, the Red Knights are trying to put together a bid to persuade the American owners to sell.

A Red Knights statement said: "We can confirm that a group of high net worth individuals, who support Manchester United met in London yesterday.

"We are supportive of current management but are looking at the feasibility of putting together a proposal to be put to the Glazer family. These discussions are in early stages and no contact has been made with them"

A spokesman for the Americans insist the club are not for sale but the Glazers are the subject of a high-profile campaign by the Manchester United Supporters Trust, who are desperate for new owners.

The Red Knights are tapping into this unrest and said: "For such a proposal to be viable it would require the involvement and support of United supporters worldwide. We have been liaising with the Trust and their representatives attended our meeting.

"Any new ownership model would aim not only to put the club on a sound financial footing but would also aim to put the supporters at the heart of everything the club does."

Duncan Drasdo, chief executive of MUST, said: "This development is hugely welcome as there is a genuine desire to see a change of ownership."