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A group of businessmen from the Far East are believed to have put together a staggering £1 billion bid to buy Manchester United from the Glazer family, according to the News of the World.

The tabloid claims that the consortium consists of a group of six businessmen, who have worked on the lucrative offer for the past three months.

Based in Bangkok, two of the six members are reportedly fans of the club, who have visited Old Trafford twice this year to watch Sir Alex Ferguson and his men in action.

A financial source in the Thai capital allegedly said: "All the finances are in place and they are ready to approach the Glazers.

"They have done their homework down to the minutest detail and realise the Glazers are under pressure to service their mounting debts.

"If ever there was a time for United to be vulnerable to a buyout, it is now."

Another source reportedly said: "Make no mistake, this could be the biggest football deal of all time.

"Roman Abramovich's investment in Chelsea will be nothing compared to this. If the Glazers are ready to sell, the money is absolutely on the table."

The group of businessmen are said to be willing to have only a piece of the cake if the Glazers are unwilling to relinquish control of the club.

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