Manchester United chief executive David Gill has insisted the Glazers do not want to sell the club and questioned the practicality of the Red Knights' possible takeover bid.
The Red Knights, a group of wealthy fans, are targeting the Glazer family's debts as part of a potential takeover. Gill said the Glazers were not interested in selling up and are running the club in the right way.
He said at the Soccerex conference in Manchester: "The owners are very long-term owners and have shown that with Tampa Bay which they took over in 1994-5. They are not sellers."
Gill added: "That's not saying people like these Red Knights can't come forward with some ideas.
"But there is no indication to mean that they want to sell and in that case they cannot buy the asset, it's not for sale. The Glazers have no wish to sell and from our perspective they are running the club in the right way."
Gill questioned how a Red Knights' takeover would work at United.
He added: "The Red Knights proposal, the idea of having 20, 30 or 40 very wealthy people running Manchester United, I don't know how it would work in practice.
"The better-run clubs are where there is clear single decision-making and it's quick and efficient - Roman Abramovich at Chelsea, Sheikh Mansour at Manchester City, Silvio Berlusconi at AC Milan.
"Having a number of wealthy people involved - they will all want to be involved in decision-making.
"I'm not sure what their endgame is but the endgame is irrelevant. The vast majority of fans of Manchester United should be happy with what we are doing and staying at the top of domestic and world football."