The Glazer family today firmly dismissed any chance of a Manchester United takeover in response to the latest rumours suggesting the club is being targeted by overseas investors.

Rival groups from China and Dubai were reported today to be preparing £1billion takeover bids for the Red Devils.

But the Glazers moved quickly to stress that no bid has been made and that in any case the club is definitely not for sale.

"Manchester United is not for sale," said a Glazers' spokesman. "The Glazer family are not engaged in any discussion with any prospective bidder and it is not courting bidders for Manchester United."

It is understood that an unnamed Chinese consortium approached the club - rather than the Glazer family - months ago to see if the Glazers would be interested in selling United and were told the club was not for sale.

The Chinese consortium made contact only to establish if the Glazers would consider a bid and, as they were told the club was not for sale, no bid followed.

Reports have suggested that the Glazers might be tempted by a takeover bid in the region of £1billion but privately the Glazers have made it clear that £1billion undervalues United.

The Glazers paid £790million for United over two years ago to complete a takeover that was initially controversial with a section of the club's fans.

But the Glazers appear to have won over some of the less antagonistic members of the United support by backing Sir Alex Ferguson very strongly in the transfer market since taking control.