Glazer to ask Irish for their help

Malcom Glazer is set to approach Manchester United's biggest shareholders John Magnier and JP McManus this weekend as he steps up his bid to take control of Old Trafford.

The American sports tycoon has been given until 17 May by the Takeover Panel to launch his £800million bid for the club - even though United's directors have made it clear they will not support it.

But in a statement issued by the board yesterday, United said they could not stop Glazer making an offer of 300p a share.

Despite being given over two weeks to finalise his plans, Glazer will make a decision on whether to bid early next week.

According to sources close to the Glazer camp, the Takeover Panel's intervention has been welcomed by his financial backers, the banks NM Rothschild and JP Morgan. They are relieved that the issue has been forced and that the full fortnight is not needed to get the bid ready.

But the takeover plan relies on whether Irish businessmen McManus and Magnier, who own 29.1 per cent of United through their investment company Cubic Expression, will accept the offer.

If the approach is rejected, Glazer's bid will be dead in the water.