New buyers for shares in United

The future ownership of Manchester United was the subject of further speculation last night after two unidentified investors bought stakes worth a total of around £2m. Shares in the plc climbed for a third day in succession, closing last night at 132p, up 8.2 per cent. The shares have climbed 17 per cent since last Friday.

A spokesman for Manchester United said the club was aware of the trading, described as "normal business" by investors who think the club is undervalued. It was worth £350m last night. Three years ago it was worth more than £1bn.

As far as United are aware, yesterday's investors are unrelated to other recent buyers. Jon de Mol, a Dutch billionaire media magnate, recently bought a 2.9 per cent stake, as did Malcolm Glazer, the American sports tycoon who owns the Tampa Bay Buccaneers. Anyone who takes their stakeholding above three per cent has a legal obligation to declare it to the Stock Exchange.

The most high-profile investors in the club in recent years have been three Irish businessmen who are close to Alex Ferguson. Dermot Desmond, the owner of Celtic, owns 2.9 per of United, while JP McManus and John Magnier own approaching nine per cent between them.

Sven Goran Eriksson said yesterday that the United pair of Paul Scholes and David Beckham, along with Liverpool's Steven Gerrard, are the irreplaceable spine of his England team and will not be dropped under almost any circumstances.

The England coach, speaking at the announcement that his side will play Serbia and Montenegro in a friendly on 3 June at Leicester City's Walkers Stadium, made it clear there is effectively one midfield place up for grabs in his side for the foreseeable future as long as that trio are fit.

Eriksson said: "If you talk about the base of the England team, then you're talking about people like Beckham, Scholes and Gerrard.Even if they are not doing always exceptionally well for their clubs, I'll pick them." England will also play Slovakia on 11 June and have now finalised their preparations to cope with the month between the end of the domestic season and that game. Having returned from a friendly in South Africa, they will have a training camp at La Manga before facing the former Yugoslavia in Leicester.