PREMIERSHIP club Manchester United has confirmed it has received a preliminary takeover approach.

The club did not disclose the identity of the potential bidder, although reports at the weekend said US multi-millionaire Malcolm Glazer was interested in taking control of the business.

Manchester United said the approach contained a number of significant conditions and that it was seeking clarification of the proposal.

Mr Glazer, who owns the Tampa Bay Buccaneers American football franchise, has a 19.2 per cent stake in United and is the second largest shareholder behind Irish racing tycoons John Magnier and JP McManus, who hold 28.9 per cent through their Cubic Expression company.

Reports at the weekend quoted banker Mehmet Dalman, who has helped Mr Glazer buy United shares in the past, as saying that the Glazer family were interested in having a major involvement at United.

In March, Mr Glazer moved to quash weeks of speculation by announcing that he had no current intention of making an offer for the club. Manchester United's current share price values the club at about £700m.

The club's statement said: "The board of Manchester United notes the recent Press speculation. It confirms that it has received a preliminary approach regarding a possible offer for the company. This approach contains a number of significant conditions.

"The company is seeking clarification of this proposal and at this stage it is unclear whether any offer will be made. The board will make a further announcement if appropriate."

The prospect of a takeover by Mr Glazer received a hostile reception from fans yesterday, with the Independent Manchester United Supporters Association pledging to use any means necessary to block the American.

Association chairman Jules Spencer said: ''If Glazer wants a fight, we will give him one. We want to make it clear that he is not welcome or wanted as owner of Manchester United.''

Any takeover is likely to need the support of Cubic Expression, as its stake is just short of the 30 per cent that would trigger a full bid for the club.

Cubic's stake-building sparked speculation about a bid from the Irish tycoons last year, although analysts have since said that the pair may have taken strategic positions and will move on when the time is right.