Manchester-based bookmaker Fred Done is reported to be one of several businessmen interested in making a bid for Manchester United.
The news comes as the club's sterling bonds have lost 7 per cent of their face value within two weeks of being issued.
Crain's Manchester reports that Done – whose fortune along with his brother Peter is estimated at £510m - is said to have been approached by a broker looking to put together by Seymour Pierce chairman Keith Harris, dubbed the “Red Knights”, to buy the club.
Done's Betfred betting empire was the club's official betting partner until the start of this season, but he has become disillusioned at the way the Glazer family runs the club.
Last month he said he would not subscribe to the family's £500m bond issue. “As an investment, I would not touch it with a barge pole,” he said.
“I am seeing empty corporate boxes, I am seeing empty seats and there are tickets on open sale which you did not see a year ago. I am seeing cracks in the team. It's just debt ridden. As a supporter it saddens me.
“I would like to know how much equity the Glazers have put in the club. I do not think it's very much.”
Reports claim the price tag on the club would be well over £1bn. However, the Glazer family have repeatedly said the club is not for sale