The Glazers are in talks with a US private equity firm about selling a minority stake in Manchester United.

United's American owners have entered into exclusive talks with US private equity firm Apollo to sell a minority stake, says the Daily Mail.

Although the Glazers are not prepared to cede control of the club — brothers Avram and Joel are expected to keep their shares and oversee the day-to-day running of Old Trafford — other family members are understood to want out.

United's share price rose sharply on the New York Stock Exchange on Wednesday as speculation mounted that the Glazers might bring in new investors or sell out completely. The shares closed at $13.69 (£11.36), up 7.1 per cent.

Any deal to sell a minority stake to Apollo is not expected to be concluded until next month at the earliest.

It is understood Apollo may bring in other investors as part of any deal.