The Saudi government official and boxing promoter sparked a frenzy of speculation this week with a post to X declaring United were in talks to sell to a "new investor".
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Al-Sheikh, a former owner of Almeria and Pyramids FC, then made a new post on Thursday night reaffirming his understanding.
He stated: “My yesterday’s post about Manchester United’s potential sale meant one thing: the club is in an advanced negotiation phase with a new investor.
“Just to clarify, I am not the investor, nor are they from my nation. I’m posting this as a fan who wishes the deal to happen, though it might not necessarily happen.”
TalkSPORT says the group involved is linked to the UAE and are in contact with several United legends about getting involved.