The Glazer family are reportedly hopeful of selling Manchester United in full by the end of March.
Last month, the English outfit's owners released a statement confirming that they were open to a sale following a host of speculation surrounding the club.
"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 from the Glazers 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."
According to The Athletic, the Glazers want to sell the club in full by the end of March, but their valuation of between £6bn and £7bn is unlikely to be met.
The report claims that only nation-states would be able to pay that current price, and it is more likely that the Americans will have to reduce their valuation in order to gain the outcome that they desire.
Man United have won England's top flight on a record 20 occasions, while they have lifted the FA Cup 12 times, in addition to securing three European Cups.
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However, the Red Devils have struggled to compete for major silverware since Sir Alex Ferguson departed as head coach at the end of the 2012-13 campaign.
David Moyes, Ryan Giggs, Louis van Gaal, Jose Mourinho, Ole Gunnar Solskjaer, Michael Carrick and Ralf Rangnick have had the managerial role at Old Trafford since Ferguson's exit.
Erik ten Hag is currently in charge of the club, with the Dutchman arriving from Ajax over the summer.
Apple, Amazon and Facebook are among the companies to be linked with potential takeovers.
Meanwhile, Spanish billionaire Amancio Ortega and British billionaire Jim Ratcliffe have also been linked with the club since it was made clear that the Glazers were open to selling the English giants.
