The Red Knights insist they won't pay over the odds for Manchester United.

Huge demonstrations took place at Old Trafford on Sunday as opposition to the Glazer ownership was ratcheted up another notch.

With smoke bombs being released outside the Megastore and a 10-minute protest outside the directors' entrance, fans opposed to United's controversial American owners appeared to be signalling an escalation in their battle to seize control.

"The Red Knights are continuing to seek to assemble a consortium to acquire Manchester United," said a statement released on behalf of the group.

"Our primary goals remain to facilitate a return of ownership of the club to its supporters and the community; and to restore the financial health of the club.

"The response continues to be encouraging but the process to achieve it is understandably complex and is taking time.

"We have had productive conversations with potential investors in recent weeks which have reinforced our belief that it is wrong to offer above fair value, particularly given the urgent need for the club to reduce debt; and that fair value is likely to be reducing over time given the headwinds facing the game of football.

"Accordingly we will continue to build support in a measured way and will give a further update in due course."