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Will Malcolm Glazer get his hands on Man United?

After much speculation in the media at the weekend that Mr Glazer was about to make a bid for the club, Manchester United confirmed on Monday it had received a "preliminary approach" regarding a possible takeover offer but the club has not yet disclosed the identity of the bidder.

How much would any offer be worth?

No figures have been mentioned by the Glazer or MUFC plc camps, but reports have put any takeover at up to �650m (�1.17 bn).

How has the club reacted?

Not with any overwhelming enthusiasm. It has noted that the approach contains a number of - as yet unrevealed - "significant conditions".

"The company is seeking clarification of this proposal and at this stage it is unclear whether any offer will be made," the club said in a statement.

How much of the club does Mr Glazer currently own?

In June, he bought a further tranche of 2.41 million Manchester United shares, as part of an ever-expanding holding. Earlier, in April he bought 4.1 million shares.

His current stake in the club now stands at 50.27 million shares or 19.2%.

So will Mr Glazer now announce a formal bid?

GLAZER FACTFILE 1928: Born in Rochester, NY 1943: Inherits father's watch business 1950-90 Makes fortune via series of ambitious investments 1995: Buys Tampa Bay Buccaneers for $190m 2003: Bucs win Super Bowl and are valued at $671m 2003: Fails in bid to buy LA Dodgers. Ups stake in Man Utd 2004: Raises Man Utd stake to 16.3%, then 18.25%, and most recently 19.7% Oct 2004 Preliminary approach regarding takeover

There has been no immediate response from Mr Glazer, owner of NFL franchise Tampa Bay Buccaneers, or from his sons.

Way back on 30 March he said he had "no current intention" of launching a takeover bid for the club, but added that his family investment company may "consider increasing or decreasing its shareholding in Manchester United in the future."

Is this piecemeal approach (repeatedly buying small amounts of shares) typical of a takeover attempt?

Not at all. It is far more usual - and considerably cheaper - to buy all the shares you need in just one go. By contrast, buying shares in a number of stages normally raises the share price each time, making subsequent purchases more expensive.

Has Mr Glazer's been forced to show his hand?

Not at all. He would only have been required to make a formal offer for the club under London Stock Exchange rules when his shareholding went above 30%.

What is Mr Glazer's background?

The owner of American football team Tampa Bay Buccaneers, he is estimated to be worth �630m ($1bn), putting him 244th on Forbes magazine's US rich list.

Man United's main shareholders John Magnier & JP McManus - 28.89% Malcolm Glazer - 19.7%

And his fortune is self-made, the product of hard work and a series of ambitious investments in property, banking and, most recently, sports teams.

He turned the Tampa Bay Buccaneers from an under-performing "also-ran" side into a highly profitably Super Bowl-winning franchise.

But at the same time he upset fans with rocketing ticket prices and threatening to move the franchise away from Tampa if the city wouldn't build the team a new stadium.

How easily could he afford to buy Manchester United?

This remains to be seen. Some analysts believe he couldn't afford to write a cheque for the club, but say it wouldn't be too difficult for him to secure financial backing.

Both because of his success with Tampa, and also because Manchester United would be a prize catch, he may feel he can work his magic and boost profits at the club.

Who are the other main players in the Man United shares saga?

Irish horse racing tycoons John Magnier and JP McManus, who are today the biggest shareholders in Man United with 28.89% of the club, have also steadily increasing their stake in the team in recent times.

Mr Magnier and Mr McManus have also made sure their shareholding did not go past the 30% level, when they would have been forced to make a formal offer for the club.

Both have always insisted they only consider Man United an investment, rather than a takeover target. They would now benefit from any Glazer purchase of their shares.

What is the position of the club's supporters?

Not happy - they have come out fighting in a way last seen back in 1998 when Rupert Murdoch's BSkyB tried to buy the club.

The Independent Manchester United Supporters Association has pledging to take any means necessary to block the American.

Association chairman Jules Spencer said: "If Glazer wants a fight, we will give him one. We want to make it clear that he is not welcome or wanted as owner of Manchester United."

So what is going to happen now?

Manchester United will have to closely study those conditions connected with the preliminary proposal. Mr Glazer has also yet to make a formal offer.

If he did then Manchester United chief executive David Gill would have to consider whether to recommend any offer to shareholders.

However, at the same time the fans are not going to sit back quietly, and will be drumming up support among small shareholders to rebuff the approach.