Manchester United co-owner Avram Glazer has confirmed that the club are proceeding with takeover talks.

Last month, the Glazer family released a statement confirming that they were open to a sale following a host of speculation surrounding the 20-time English champions.

"Manchester United plc, one of the most successful and historic sports clubs in the world, announces today that the company's board of directors (the "board") is commencing a process to explore strategic alternatives for the club," read a statement on Man United's official website.

"The process is designed to enhance the club's future growth, with the ultimate goal of positioning the club to capitalize on opportunities both on the pitch and commercially.

"As part of this process, the board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the company.

"This will include an assessment of several initiatives to strengthen the club, including stadium and infrastructure redevelopment, and expansion of the club's commercial operations on a global scale, each in the context of enhancing the long-term success of the club's men's, women's and academy teams, and bringing benefits to fans and other stakeholders."

Avram Glazer has now been asked about the current situation, and the club's co-owner said that it is possible that a full sale might not occur.

"It's not necessarily a sale, it's a process and we're going forward with the process, so we'll see what happens," he told The Athletic. "I'm here to really watch the World Cup but I appreciate your interest. That's the update, it's the process and the process is proceeding."

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A recent report claimed that the Glazer family were hopeful of selling Man United before the end of March.

However, their valuation of the Red Devils has allegedly been a huge problem when it comes to generating offers, with the Americans said to value the club between £6bn and £7bn.

Apple, Amazon and Facebook have all been credited with an interest in Man United, while British billionaire Jim Ratcliffe is also believed to be keeping a close eye on the developments.

The Red Devils are currently preparing for the return of competitive action, with the club set to take on Championship side Burnley in the fourth round of the EFL Cup on December 21.