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Page last updated at 11:00 GMT, Wednesday, 14 April 2010 12:00 UK

Red Knights set for Manchester United investor talks

Fan in original Manchester United colours
United currently lie second in the table, four points adrift of Chelsea

The group considering a bid to take over Manchester United are close to finalising proposals to tempt wealthy investors to join them.

The Red Knights hope to sign off on a document which will explain how the new ownership model will work.

Aided by the Japanese bank Nomura, they could begin their search for investors as early as next week.

"Red Knights are now very keen to build some momentum," said BBC Sports Editor David Bond.

"They are now looking to raise the £700 million they will need for a credible bid.

"Once the blueprint for how their ownership model will work has been finalised they can then begin to find the 30 or 40 super-wealthy investors that they hope will provide a large part of that capital."

As well as major investment from super-wealthy supporters of the club from the UK and abroad, the group also hope to raise smaller sums from ordinary fans.

Their plans also include allowing the major investors to sell further chunks of their stakes in the club to fans if the takeover is successful.

The Red Knights have, however, already said they will not make an offer to the Glazer family, until the end of the season.

But the American owners maintain the club is not for sale - just as they did when a Chinese consortium expressed an interest in December 2009.

"The Glazer family have repeatedly said that the club is not for sale, but remember these investors are serious people with serious reputations, led by Jim O'Neill, the head of global economic research at Goldman Sachs," said Bond.

"They are determined to put a credible bid together and tempt the Glazers into selling the club."

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see also
Red Knights delay Man Utd offer
26 Mar 10 |  Man Utd
Who are the Red Knights?
11 Mar 10 |  Man Utd
Ferguson rejects Red Knights link
07 Mar 10 |  Man Utd
Man Utd suitors 'won't overpay'
05 Mar 10 |  Business
Glazers receive backing from Gill
03 Mar 10 |  Business
Manchester United debt hits 716m
20 Jan 10 |  Business
Glazer wins control of Man United
12 May 05 |  Business

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