Manchester United shareholders will be left to determine the Old Trafford club's future after the British government refused to get involved in the Malcolm Glazer takeover row.
With speculation mounting that Mr Glazer will be granted access to United's accounts by the Red Devils' board, Manchester Central MP Tony Lloyd asked the Department for Trade and Industry (DTI) to block the American's approach on public interest grounds.
However, the DTI has rejected the call and insist the ownership of the club is solely a matter for United shareholders. "We don't believe there is a case for changing the Enterprise Act to allow for takeovers of football clubs to be looked at on non-competition grounds," said a DTI spokesman.
The news will come as a blow to the large section of United supporters opposed to Mr Glazer's involvement, it will not stop their protests, which are bound to become even more fierce should the Tampa Bay Buccaneers owner finally get a chance to inspect club accounts.
United chief executive Mr David Gill has already stopped Mr Glazer's financiers from carrying out "due diligence" once, a move that saw the American retaliate by voting three directors off the Old Trafford board.
However, although he acknowledges opposition to Mr Glazer is widespread, Mr Gill knows his first priority is to look after shareholder interests and would risk sparking an emergency general meeting if he rebuffs a second approach.
Should Glazer be granted access to the secret financial information, his major backers JP Morgan would decide whether the projected future growth prospects and profit forecasts are realistic, before advising their billionaire client if they are prepared to back a formal bid.
Although the takeover process would take weeks to complete, United fans are already making their voices heard, with a well-attended demonstration outside Old Trafford on Wednesday.
More protests are expected on Sunday when United visit Eastlands for the televised Manchester derby, although City officials have warned fans they will not be allowed to demonstrate against Mr Glazer inside the stadium.
PA