Manchester United plans to sit down with its two biggest shareholders and put an end to months of speculation over the ownership of the world's richest soccer club.

The move, announced yesterday, follows the ousting of three of its directors on Friday by US sports tycoon Mr Malcolm Glazer, who has a 28.11 per cent stake in Manchester United.

His attempts to take over the club have twice been thwarted by Mr J.P. McManus and Mr John Magnier, who own 28.9 per cent of the club through their investment vehicle Cubic Expression.

Manchester United wants to know whether Mr Glazer still intends to buy the club and whether Mr McManus and Mr Magnier will sell him their stake to end months of uncertainty.

"We want to try and sit down with all our big shareholders and find a long-term solution to this problem," a Manchester United spokesman said.

"Meeting this week might be a bit too immediate but we do need to sit down with both."

The spokesman did not give any indication of when the talks might take place.

Manchester United is hoping that the regulatory Takeover Panel will take up its case and tell Mr Glazer to either "put up or shut up".

No definitive bid proposal has ever been put by Mr Glazer to the board of the football club.

Typically, the panel can only intervene when a company is in an offer period, which Manchester United is no longer. Sources close to the panel said on Friday that, under certain circumstances, it can still intervene and force a potential bidder, such as Mr Glazer, to show his hand.

Manchester United called off talks with Mr Glazer last month over his proposed offer as the debt-free club said it would not support a bid that involved taking on a large amount of debt to finance a near £800 million (€1.145 billion) takeover.

Any attempt by Mr Glazer to buy Manchester United may now be more difficult after his bankers and public relations advisers walked away from the US financier after he voted down the re-election of the three directors at United's annual general meeting on Friday.

US bank JP Morgan Chase had been due to finance any successful offer by Mr Glazer, owner of American football's Tampa Bay Buccaneers.

United said yesterday that its board would continue to operate with four members after Mr Glazer voted down commercial director Mr Andy Anson and non-executives Mr Maurice Watkins and Mr Philip Yea. Mr Anson would continue to work as commercial director, the club said, adding that reports suggesting Mr Glazer's son would be appointed to the board were "press speculation".

"We are disappointed at being forced into this situation," the club's spokesman said.