Manchester United are facing a £1 BILLION Chinese takeover.

The News of the World says the group of six billionaires have spent three months on a deal they hope is too good for Malcolm Glazer to reject.

Two consortium members are keen United fans who have twice visited Old Trafford this year to watch Sir Alex Ferguson and his players in Premier League action.

Based in Bangkok, the consortium wants to buy out the Glazer family and put an end to the financial balancing act which has engulfed the world's biggest football club.

A financial source in Bangkok said: "All the finances are in place and they are ready to approach the Glazers.

"They have done their homework down to the minutest detail and realise the Glazers are under pressure to service their mounting debts.

"If ever there was a time for United to be vulnerable to a buyout, it is now."