Glazers have turned down £850m takeover bid for Man Utd

A Midlands-based finance expert made the move three months ago on behalf of a Chinese consortium, says the newspaper.

The Far Eastern investors hoped the Glazer family would be willing to sell United to rid themselves of the £660million debt after buying the club two years ago.

Manchester United chief executive David Gill said last night: “As it’s an ownership matter, it’s a matter for the family and their represenatives — not for me.”

A United spokesman said: “Manchester United are the world’s biggest club and, of course, it is coveted but anyone who thinks that it is up for sale is mad.

“The Glazers are in it for the long haul and are determined to ensure success both on and off the pitch.”