Gill insists Manchester United are well run

Gill is expected to distance United from talk of a takeover (Getty)

Manchester United chief executive David Gill is expected today to distance the club from takeover speculation surrounding a group of wealthy fans.

Red Knights, a group of "high net worth individuals" who work in the City, have confirmed their intention to try to oust the owners, the Glazer family.

But the Glazers have insisted they are not interested in selling United - and yesterday's announcement of a sharp rise in turnover and profits has strengthened their position.

Gill is due to speak at today's Soccerex conference in Manchester - and yesterday defended the club's debts saying they would not impact on UEFA's new rules where all clubs must only spend what they earn if they want to play in European competition.

Gill said: "We have seen what the proposals are and we would meet the financial break even rules.

"We as Manchester United have always been run professionally and will continue to be run professionally."

The Red Knights will try to persuade the Glazers to accept an offer of around £1billion but the latest financial figures should persuade the Americans they could get much more for the club.

The figures for the six months up to December show turnover up 19% to £144.7million from £121.7million for the equivalent period in 2008.

The club's debt dropped from £538.1million to £507.5million and there were increases recorded in matchday revenues, TV money - particularly from the Champions League - and commercial revenue.

Media revenues have increased 33% from £40.3million to £53.4million and commercial revenues up 16% from £33.5million to £38.7million.

The figures will not be particularly welcome to the Red Knights, who include Goldman Sachs chief economist Jim O'Neill - the one-time friend of Sir Alex Ferguson who is acting in a personal capacity, plus lawyer Mark Rawlinson and merchant banker Keith Harris.

Angered by United's debts - the total debt of the Red Football Ltd, the Glazers' holding company for United, was registered at £716.5million at the start of the year - the Red Knights held a meeting in London yesterday and will now look at formulating a plan to raise more than £1billion.