A spokesman for Manchester United has described as "pure speculation" a newspaper report that three billionaires are on the verge of an €850 million takeover battle for the club.

A report in yesterday's Observer claimed that three individuals with wealth comparable to new Chelsea owner Mr Roman Abramovich were preparing separate takeover bids, which would turn the Old Trafford outfit into a privately-run operation.

United claimed it had not been the subject of any approach and was not aware of "active interest" from any party.

Irish businessmen Mr Dermot Desmond, Mr JP McManus and Mr John Magnier, are all shareholders in Manchester United.

United's dependence on the approval of shareholders is perceived as a weakness by some, who point to the benefits of having one owner calling the shots.

However, spokesman for supporters group Shareholders United's, Mr Oliver Houston, said his group was opposed to moves that would turn control of the club over to an individual. "Manchester United is not the plaything of wealthy individuals or international corporations," he said.

On their own, the members of Shareholders United do not have significant financial clout, but Mr Houston said anyone ignoring the shares held by fans "is going to wind up with a bloody nose".