London , England ( CNN ) -- The group poised to launch a takeover bid for English Premier League side Manchester United has signaled its intent by appointing a major international bank to act as its financial adviser . The `` Red Knights '' consortium , made up of wealthy businessmen , has employed Japanese investment bank Nomura to help with its $ 1 billion move for the club , currently owned by the American Glazer family . The Knights say Nomura will now work closely with the Manchester United Supporters ' Trust ( MUST ) and other potential investors to `` coordinate and formulate the proposal to be put to the Glazer family , '' according to a statement . The bank 's team will be led by Guy Dawson and Andrew McNaught , both of whom advised Manchester United 's board when the club was sold to the Glazers in 2005 . Their first job will be to firm up offers of financial support pledged to the Red Knights ' cause , and help on any proposal that is eventually put to the club . The Glazers have been criticized for the levels of debt at the current English champions , with the latest accounts showing that United are more than $ 1 billion in the red . The owners recently launched a bond issue to raise $ 750 million to reduce the debt . They also own NFL side Tampa Bay Buccaneers . The Red Knights ' announcement comes just hours after the most vocal protest yet from Manchester United supporters against the Glazer family , during Wednesday 's European Champions League last 16 victory over AC Milan . Fans unveiled banners that read : `` Love United Hate Glazer . '' The green and gold scarves that have become a symbol of their disquiet were also prevalent at Old Trafford . The club 's chief executive , David Gill , told a football conference last week that the Glazers were not interested in selling the club . Nevertheless the Red Knights are pressing ahead . In a statement confirming the appointment of Nomura , the group said : `` The Red Knights are pleased to confirm that Nomura , the global investment bank , has agreed to advise on a possible acquisition of Manchester United . `` Nomura will work closely with the Red Knights , MUST and other potential investors to co-ordinate and formulate the proposal to be put to the Glazer family . `` Nomura is beginning its role by contacting the many expressions of financial support the Red Knights have received to date . ''
Group eyeing takeover for Manchester United appoints leading businessmen as adviser . Japanese businessman Tanaka will help ` ` Red Bulls '' bid on bid . Many United fans protested against current administration at last minute . United are currently $ 1 billion in debt , according to accounts .