Red Knights Close On Utd Bid

Sky Sports News understands the group considering a bid to take over Manchester United are hopeful the terms of an offer will be finalised this week.

The Red Knights strategy group is meeting on Wednesday to tempt wealthy investors to join them and there remains every expectation that a formal offer will be made at the end of the season.

Sky Sports News' chief news reporter Bryan Swanson understands the Red Knights are more confident that, following the club's recent exit from the UEFA Champions League, the true value of the club has decreased and all major issues facing the club suggest downside risks.

It is believed negotiations with potential investors include the possibility of keeping the ₤500m bond raised by Manchester United supporters.

It is understood the group has not been put off by the Glazer family's insistence that the club are "not for sale" and the group believe a credible bid will be put together.