The Manchester United affair has taken a new twist with Mr Malcolm Glazer, owner of the Tampa Bay Buccaneers American football franchise, instructing Commerzbank to examine bid possibilities.

Mr Glazer has asked the bank to look at financing options and possible bid structures. News of his move comes a day after Mr John Magnier and Mr JP McManus, the Irish millionaires who are the largest shareholders in Manchester United, lifted their stake in the club to 29 per cent.

Mr Glazer's representatives are understood to have "offered their help" to the club at the height of the recent row between the board and Mr Magnier and Mr McManus, who are Manchester United's largest shareholders.

Mr Glazer's representatives have been in informal contact with members of the Manchester United board but have fallen short of detailing their bid plans. People familiar with the matter said Mr Glazer's representatives had also made informal overtures to Sir Alex Ferguson, the club's lionised manager, because they regard his support as crucial to winning over the club's fans.

The stake held by Mr Magnier and Mr McManus could enable them to thwart Mr Glazer's bid ambitions. Mr Glazer yesterday lifted his stake to more than 17 per cent. If he manages to persuade various institutions to sell their shareholdings, he could up his stake again.

Mr Magnier and Mr McManus are not thought to be contemplating an offer for the club. However, they are keen to secure board representation in line with their holding. It remains possible that no offer will materialise.

In the past, the appearance of Mr Glazer on a company's share register has lifted the share price on expectations of a bid. But as the price rises and a deal becomes more expensive, Mr Glazer tends to sell out.

United shares closed at 267p, up 1¾p, valuing the company at £694 million. Meanwhile meetings with Cubic Expression - the vehicle owned by Mr McManus and Mr Magnier - are expected to take place over the next week to 10 days.

"I don't think Cubic is interested at this point in taking over the club but obviously they're keeping that option open," said one Dublin-based analyst.

"It's more about jockeying for position, and trying to make sure their interests are protected. They've tightened the screw and increased their influence over the club without going through the 30 per cent shareholding threshold." - (Additional reporting, Financial Times Service)