Manchester United shares rose by 4% at the start of trading this morning amid speculation that Malcolm Glazer was about to make another bid for the club.

Glazer, the American billionaire, who owns a 28.11% stake in the club, has already seen one attempt to buy the club fail.

However, he has now managed to secure funding for a fresh bid, with City analysts expecting him to launch a formal takeover offer of around 300p per share.

Glazer has long coveted United, who he believes are underperforming.

According to the Financial Times Manchester United, who are growing increasingly frustrated by Glazer’s maneuverings , may issue an official stock exchange statement that will demand Glazer “Put up or shut up”.

“We are not going to enter into any negotiations (with Mr Glzaer),” the unnamed source was quoted as saying.

“If there is a formal offer, we will look at it.”