MANCHESTER UNITED’s biggest shareholders, the racing tycoons John Magnier and JP McManus, are prepared to sell at 310p a share to Malcolm Glazer, the American businessman who is stalking the club.

The Irish duo are the club’s biggest investors, with almost 30% of the shares, and their support is critical to Glazer’s success. A deal at 310p a share would value United at £813m.

Glazer, 76-year-old owner of the Tampa Bay Buccaneers American football team, has appointed the investment bank JP Morgan Chase to advise him on a bid.

Glazer’s son Avi made preliminary contact on Thursday with the Irish pair about the proposed takeover and is expected to return with a concrete proposal as early as this week.

“We will not sell unless we are made a silly offer, and that means 300p-plus,” said a source close to the Irishmen. “We spent four years building up the shareholding. You can probably assume that we have built our stake up to entirely where we want it to be.”

Glazer has not confirmed his interest in bidding, but he already has a 19% stake and the prospect of him owning the club has greatly angered the team’s supporters.

Glazer is said to be aware of the need to keep fans on his side and is understood to have made it a condition of any takeover that it is publicly endorsed by Sir Alex Ferguson, the team manager.

Private investors, most of whom are fans, account for as much as 18% of the shares and their support could become hugely important to the success of a bid.

Seymour Pierce, the stockbroker chaired by Keith Harris, is understood to be in talks with fans’ groups such as Shareholders United, about advising supporters on how they can use their stake to block Glazer and secure the long-term future of the club.

But McManus and Magnier have the whip hand. A source close to the pair said: “They (the Glazers) now have to come to us with a proposal. We are sitting happily on our 29% shareholding and we are long-term shareholders. If they want to come to us it has to be good.”

But question marks surrounding Glazer have discouraged some financial institutions. Goldman Sachs, the American investment bank, is believed to have turned him down as a potential client.

Times Recommends

• C&G axed - 1,660 jobs to be lost
• UK house prices rise 1.1% as buyers return
• Mixed reaction to US banks repaying bailouts