Manchester United has received a new bid approach from Malcolm Glazer, boosting its shares, but the club said today it would only talk to the US financier if he made a firm offer.
According to Reuters, a source said Mr Glazer, owner of the Tampa Bay Buccaneers American football team, was planning an £800 million sterling takeover offer for the Premiership side.
"The board of Manchester United confirms that at a shareholder meeting Glazer has indicated, on a very preliminary basis, potential revisions to its previous proposal," the 15 times English soccer champions said in a statement.
"The board does not intend to open discussions on this matter unless it receives a definitive proposal from Glazer."
This afternoon Manchester United shares were 3.4 per cent higher at 275 pence, having touched 282-3/4p earlier.
Glazer, who has had two previous approaches for the club rebuffed, met Manchester United Chief Executive Mr David Gill last week in Tampa, Florida, the source said.
The new offer would consist of more cash and less debt than his previous proposal, he added.
United's board has said previously it would not back an offer that left the football club deeply in debt.
Mr Glazer's fresh attempt to win control of the 126-year-old club comes a month after his bankers resigned after the US tycoon used his 28 per cent stake in United to oust three of its board members during the club's annual general meeting.
Mr Glazer had made the strike in retribution for the board not giving him access to the club's books for his 300 pence a share takeover approach, which valued United at about £787 million at the time.