After suffering a 3-2 league defeat to Middlesbrough mid-week, Manchester United's players will be out to make amends today when the team takes on Manchester City in the fifth round of the FA Cup.
But while the players battle on the pitch another battle looks set to be waged in the football club's boardroom.
Mr Malcolm Glazer, the US entrepreneur, has raised his stake in the club to more than 17 per cent and has instructed Commerzbank to examine bid possibilities.
For Manchester United fans the prospect of a bid has rekindled memories of 1998 when British Sky Broadcasting, the pay-TV company in which Rupert Murdoch's News Corporation owns 35.4 per cent, offered £625 million (€925 million) for the club.
The prospect of Mr Murdoch taking ownership of the club was vocally opposed by many of its fans. The deal was eventually blocked by the government because it feared BSkyB's ownership of United would have given it an unfair advantage in future sports rights negotiations.
There is little chance of a bid from Mr Glazer falling foul of the same competition concerns. However, there are signs that fans might be suspicious of Mr Glazer's motives because so little is known about him.
The son of Lithuanian immigrants, Mr Glazer took over the family watch-repair business at 15 following his father's death. After progressing to a career in property, Mr Glazer bought restaurant chains, broadcasting businesses and a fish oil company.
In the 1980s he became known as a corporate raider, building stakes in high-profile companies such as Formica and Harley-Davidson. After being thwarted in his efforts to gain control of the businesses he sold his stakes at a profit.
He has a record in sport, having acquired the Tampa Bay Buccaneers American football franchise when it was struggling to live up to the expectations of its fans. Through investment he succeeded in turning the team into a Super Bowl winning side.
Mr Glazer, who lives in Florida, is advised on financial matters by his sons, one of whom is said to be a Manchester United fan. But despite the moves the Glazers have made towards making an offer for the club, doubts remain about whether a bid will ever transpire.
If a bid does emerge, Mr JP McManus and Mr John Magnier, the the club's largest shareholders with a 29 per cent stake, could block the deal. So too could Manchester United fans.
"About 17 per cent of Manchester United is held by private shareholders," said Mr Oliver Houston of Shareholders United, the pressure group set up to oppose the BSkyB takeover in 1998. "We will resist any attempt to take the club private. This is a 125-year-old community asset. The heart and soul of Manchester United will never be for sale."
The importance of gaining the support of United fans was highlighted this week when some supporter groups requested permission to hold a demonstration at the Cheltenham racing festival next month where Mr Magnier's horses are due to run.
However, any bid by Mr Glazer would be difficult to derail if Mr Magnier and Mr McManus agreed to sell him their stake. Although contact has not been made between the two camps, it is understood the Irish duo would sell at the right price.
Whether Mr Glazer can afford such a price is another matter. Former associates of Mr Glazer have suggested he may lack the fire power to pull off the deal. With Manchester United shares touching three-year highs this week, valuing the club at more than £700 million, there is no question but that any deal would represent, as one analyst called it, "a significant chunk of change". - (Financial Times Service)
