Russian billionaire denies planning a takeover bid of Manchester United

Russian billionaire Mikhail Prokhorov firmly denies he is planning a takeover bid of Manchester United, sources have told Sportsmail.

Reports in Russia on Wednesday had suggested the former Brooklyn Nets NBA team owner, who is valued by Forbes as having a net worth of $11.3billion (£8.7bn), was targeting a return to sports ownership.

Sportsmail has learned that is not the case and Prokhorov has no immediate plans to make a return.

Prokhorov, 55, made a large portion of his fortune from selling his stake in metals giant Norilsk Nickel in 2008.

He has stakes in Russian power, insurance and banking sectors and also gained prominence when running against Vladimir Putin in Russia's 2012 presidential race.

Prokhorov's time as a sports owner came to an end in 2018 when he sold his 49 per cent stake in NBA franchise Brooklyn Nets in a $2.3bn deal to Chinese billionaire Joseph Tsai.

Manchester United have been owned by the Glazer family since their buyout of existing shareholders between 2003-05.

Supporters have protested against their ownership of the Glazer family for years now but with the club valued at close to £3bn by Forbes, potential owners have found a. takeover bid increasingly difficult to finance.

Prokhorov, who invested heavily into the Nets before selling his share, is an individual who does have the wealth to fund such a deal but, for now, he has firmly denied any interest in a return to sports ownership.