Manchester United’s board has informed the stock market the club has received no sort of takeover approach after mounting speculation that American businessman Malcolm Glazer was planning to buy United.

Glazer, who last week increased his stake in the club to 16.31 percent, admitted yesterday he was considering his options and could increase his shareholding.

The statement led the City Takeover Panel to put United on alert of a possible bid. However Glazer admitted he could also sell his stake in the club.

A statement from the club confirmed it had beenn given no indication as to Glazer’s intentions.

“The board of Manchester United plc wishes to make clear that, as at today’s date (February 17), it has not received any approach, formal or informal, regarding a possible takeover offer for the company,” it read.

“The directors of Manchester United accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the directors (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not contain anything likely to affect the import of such information.”