The third and final deadline in the Manchester United takeover process has now passed.
Yesterday, Friday, April 29, was the due date for third bids from interested parties to submit offers to Raine, the merchant bank overseeing the sale process on behalf of the Glazer family, before the close of business in New York City (10pm BST). Sir Jim Ratcliffe's INEOS and the Sheikh Jassim-fronted Nine Two Foundation are both understood to have made updated offers to take control of United.
Alongside the two frontrunners to become the club's majority shareholder, several American investment groups are also said to have made proposals to take minority stakes in the club, including Carlyle, Elliott Management, Ares Management and Sixth Street.
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Here is a round-up of all the reported activity from deadline day.
Sheikh Jassim's 'world record bid'
The Nine Two Foundation are understood to have made their third and final bid to buy the club shortly before Friday's deadline. Claims suggest the offer is a world record figure of over £5billion, according to the Daily Mail, but still someway short of the Glazers' £6bn asking price.
With the proposal, Sheikh Jassim has pledged significant capital towards addressing infrastructure issues, namely the redevelopment or rebuilding of Old Trafford and renovating the club's Carrington training complex. The offer would also remove all debt from the club, which currently stands at £535.7m as per the club's most recent financial results.
Ratcliffe's renewed offer
INEOS are also understood to have submitted an offer under the Glazers' £6bn asking price before Friday's deadline, according to The Guardian. It comes amid reports that Ratcliffe is proposing to acquire just over 50per cent of the club, a controlling interest, which would mean Joel and Avram Glazer retain a 20pc minority stake.
Reports also suggest the British billionaire may require borrowing to finance a takeover. Bloomberg reported before the deadline that Raine asked bidders to clarify the source of their funds, outline planned financial models and detail what debt they would secure against the club.
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