The 'Red Knights' have confirmed their intention to try to oust the owners of Manchester United. Described as a group of "high net worth individuals", the Red Knights include Jim O'Neill, chief economist at Goldman Sachs and a one-time friend of Sir Alex Ferguson.
Although plans are at a very early stage and no contact has been made with the Glazers, who have always stressed they are not interested in a deal, a meeting in London yesterday between the key individuals involved in the Red Knights project went through various scenarios and will now look at formulating a plan to raise in excess of £1billion.
"We can confirm that a group of high net worth individuals, who support Manchester United (known as the "Red Knights"), met in London yesterday," a statement released on behalf of the Red Knights read.
"This group is supportive of current management but are looking at the feasibility of putting together a proposal to be put to the Glazer family regarding the ownership of Manchester United.
"These discussions are in early stages and no contact has been made with the Glazer family." As a starting measure, the Red Knights are urging supporters to join the Manchester United Supporters Trust, which has been vehemently opposed to the Glazers from day one.
"For such a proposal to be viable it would require the involvement and support of Manchester United supporters worldwide," the statement continued.
"The Red Knights have been liaising with the Manchester United Supporters Trust and their representatives attended yesterday's meeting.
"As a first step, the Red Knights want supporters to demonstrate their commitment by joining the free online membership of the Supporters Trust, www.joinmust.org.
"Any new ownership model would aim not only to put the club on a sound financial footing, but would also aim to put the supporters at the heart of everything the club does."
