Manchester United are in talks with the Manchester United Supporters' Trust about a representative to be added to the board.
United have been in talks with the Trust over the scheme since the failed European Super League sparked outrage against the Glazer family and owners of the other clubs involved.
Co-chairman Joel Glazer apologised in April over United's role in the failed ESL and has appeared at two fans' forums since the debacle to try and foster a better relationship with supporters, as well as agreeing to set up a new fans' advisory board.
A club statement read: "We are in advanced talks with MUST about a fans' share scheme which would open a path for fans to build, over time, a meaningful ownership stake in Manchester United.
"This would give fans a strong collective voice within our ownership structure and help cement a new spirit of long-term partnership between fans and the club.
"There are significant legal and regulatory complexities being worked through, together with MUST and expert advisers.
"As well as making progress on the fans' share scheme, we are also creating a fans' advisory board as a new channel for board-level dialogue with supporters and this is close to launch."
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