Manchester United's owners the Glazers are reportedly ready to start negotiating their asking price for the club with bidders.

Last November, the Glazer family signalled that they were prepared to sell the 20-time English champions, with their asking price believed to be as much as £6bn.

British billionaire Sir Jim Ratcliffe and Qatari banker Sheikh Jassim bin Hamad Al Thani both had opening offers rejected but have since returned with new ones, which are thought to be in the region of £5bn.

Finnish entrepreneur Thomas Zilliacus has also emerged as a contender to buy the Red Devils, recently insisting that he can raise the funds to complete a takeover.

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According to The Independent, the Glazers are now ready to start negotiating a price, as they look to establish just how high that Sheikh Jassim and Ratcliffe would be prepared to go.

The report claims that Joel Glazer and Avram Glazer are wrestling with the idea of bringing in investment rather than selling the club, but four of the other siblings, Kevin, Edward, Bryan and Darcie, are keen on a full sale.

The Glazers are currently working with US bank Raine Group on the proposed takeover, and it has been claimed that there could be an update before the end of the week.

A recent report claimed that senior officials for the UK government had raised concerns over Sheikh Jassim's previous business record, but there is no indication that a move could be blocked.

US hedge fund Elliott Management have also allegedly made an offer to purchase a minority stake of the club.

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Sheikh Jassim is seen as the favourite for the Red Devils, with the Qatari bidding for 100% of the club, while he has also promised to clear the club's debts.

Ratcliffe, on the other hand, is only believed to be looking to purchase 69% of the club, while his offer does not include clearing the vast debts at Old Trafford.

Any sale, if it goes through, is expected to be completed before June, with any proposed new owner expected to want to have a plan in place for the summer transfer window.

Man United lifted their first silverware in six years this season - winning the EFL Cup at the end of February, while they are still chasing success in the Europa League and FA Cup.