Manchester United co-owner Avram Glazer reportedly held discussions with potential investors from both Saudi Arabia and Qatar during his recent trip to Doha.
The Glazer family announced last month that they were open to selling the club in the near future.
"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.
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"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 recently insisted that the current owners were not just considering a full sale, with investment potentially being brought in from outside.
"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."
According to The Athletic, Avram Glazer held talks with potential investors from Saudi Arabia and Qatar during the 2022 World Cup.
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The Glazer family are allegedly keen to either have sold the club or brought in investment by the end of March.
There have been suggestions that the club's current owners value the 20-time English champions between £6bn and £7bn, but they could be forced to drop their asking price to generate more interest.
Apple, Amazon and Facebook are among the major companies to be linked with a possible takeover, in addition to British billionaire Jim Ratcliffe.
Man United will be back in competitive action following the 2022 World Cup against Burnley on Wednesday night, with the two sides locking horns at Old Trafford for a spot in the quarter-finals of the EFL Cup.
Erik ten Hag's side will then be back in Premier League action against Nottingham Forest on December 27.
