Man United chief executive Peter Kenyon does not believe Irish tycoons John Magnier and J. P. McManus are planning a takeover for Manchester United.
The two have been tipped to make a takeover since their company, Cubic Expression, bought a 6.8 per cent stake in the club.
Their acquisition makes them United's second-largest shareholders behind BSkyB, who failed to take over the club in 1999, and some observers feel this could be the prelude to a full-blown attempt to buy control.
Magnier and McManus, who are horseracing friends of Sir Alex Ferguson, insist they merely see their stake as a good investment. Kenyon believes them and says they have reaffirmed this point in talks with the board.
Speaking after their annual general meeting at Old Trafford Kenyon said: "There are always rumours, and we've not had any approaches.
"You've just got to keep on with the running of the business and developing the business and deal with these issues if and when they occur.
"If it is hostile they are certainly not going to tell you beforehand. The comments they have made are that they are value investors.
"There has been no indication that it's going to be any more than an investment," Kenyon said.
PA