⚽️Football Manchester United sale: Sir Jim Ratcliffe and INEOS submit revised bid

[Lupin]

"There was this deadline last night (Wednesday) of 9pm, and we understand Ratcliffe's team got in touch with Raine to ask for a little bit more time, and that bid has gone in today.

"We're now just waiting to hear that the Qataris have put their bid in too. We know Ratcliffe has the funds in place - not all of it will be his own money - to be able to buy Man Utd.

"How much is the bid worth? The information I have is that the first round of bids were world-record bids, more than £3.75bn, and potentially around £4.5bn. It's a staggering amount of money, but may not be enough for the Glazer's to sell."

Here's what happened on a dramatic Tuesday night of extraordinary developments around the sale of Man Utd:

• 9pm: Deadline for second bids passes, with Elliott Management having submitted offer for minority stake.
• 9.10pm: Qataris claim to make new, improved, debt-free world-record bid.
• 9.45pm: Raine Group, the firm handling the sale of Man Utd, say they did not receive bids from Sheikh Jassim or Sir Jim Ratcliffe's INEOS. The Qataris had previously asked for an extension, followed by INEOS. Both extensions were granted.
• 10.25pm: Raine Group say they have received "many proposals" to buy United before deadline but not from the Qataris or Ratcliffe.
• 10.35pm: Sky Sports News told that Glazers do want to sell United.
• 10.45pm: Qataris say they did not submit bid because they were offered an extension which had been granted to other parties and Sheikh Jassim decided to take it up.
• 10.50pm: Sources involved reveal Sheikh Jassim's bid is ready to go and he did not need extra time.

The Glazer family have still not indicated how much they want for United, with even the most senior people involved not knowing the asking price.

It is understood up to eight bids were sent in to Raine on Wednesday night but not all of them are to buy United outright.

The Qataris believe they will have the best offer for the club, the fans and the community.

Sheikh Jassim and Ratcliffe are the leading contenders but there is no favourite at present, with the highest first-round bids having valued the club at around £4.5bn - well short of the Glazer family's widely-reported £6bn asking price.