JAPANESE investment bank Nomura is believed to be working on a financial package to block the planned takeover of Manchester United by US sports tycoon Malcolm Glazer.

Keith Harris, chairman of UK investment bank Seymour Pierce, is thought to have enlisted Nomura in an attempt to build up a stake large enough to ensure the club could not be taken over without the consent of supporters.

Shareholders United and the Independent Manchester United Supporters Association - two of the club's largest fan groups and opponents of the proposed takeover - are thought to be involved in the plan.

A report in The Financial Times said the bank had initially earmarked £200m for use by Mr Harris and fellow supporters, who have been opposed to the prospect of a takeover by Mr Glazer.

The loan would be partly repaid with funds from a securitisation of future ticket sales or revenues from media rights, although the report said this could now be difficult as Mr Glazer has since taken his stake above 25 per cent and would be able to block such a move.

In spite of the setback, the FT said Nomura had continued to work on a financing proposal. The bank declined to comment.

Mr Harris previously advised British Sky Broadcasting on its blocked £623m bid for United six years ago.

Speculation that Mr Glazer was plotting a takeover campaign gathered pace earlier this month when the former Premiership champion club confirmed it had received a "preliminary approach". Analysts speculated a bid from Mr Glazer could value United at £800m.