Manchester United's board are now considering a revised takeover bid from American tycoon Malcolm Glazer but concerns remain at the level of debt involved.

Mr Glazer has raised £300 million (€440 million) in bank loans to purchase the club set against the promise of future earnings from the business - from media rights, merchandising, gate receipts and other revenue generated from on-pitch success, such as regular qualification for the Champions League.

Mr Glazer's proposals will set out the ways in which he believes the £300 million can be recouped.

United are by far the Premiership's biggest earners from gate receipts, which was their largest single source of income last year, but the area where Mr Glazer is sure to see most increased earning potential is from media rights.

Mr Glazer believes United's worldwide appeal can be better exploited and is believed to be keen to go it alone as a media entity and scrap the current collective agreement over Premier League television rights.

To do that would require 12 of the 20 top-flight clubs agreeing for United to withdraw - unlikely considering most stand to make more collectively than by negotiating individual rights.

Mr Glazer's promise of a £20 million transfer kitty for manager Sir Alex Ferguson, described as a "con" by the supporters' group, does not go very far in football any more and pales into insignificance compared to the funds available to Chelsea manager Jose Mourinho.