The Mail on Sunday says United's owners are rushing to raise up to £250million through the issue of shares and could make the move as soon as February.
Football finance expert David Bick, of Square 1 Consulting, said: "The Glazers haven't made this filing to hang around. While Sir Alex Ferguson worked wonders over the last few seasons, the club urgently need to raise this money to reinforce the club, which many observers believe are in early stages of decline.
"They can't compete with the likes of Manchester City and Real Madrid in the transfer market without spending massive amounts of money and they can't do that until they dramatically bring down the debt. While on the commercial side they are doing brilliantly, the money is being swallowed up by the massive charges."
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