A number of potential minority investors are still waiting to hear whether their offers to buy into Manchester United have been successful, sources have told ESPN, as owners the Glazer family continue to weigh up bids for a full sale of the club.
British billionaire Sir Jim Ratcliffe and Qatari businessman Sheikh Jassim have made public offers to take over at Old Trafford and are waiting for a decision from the Glazers and Raine Group, the bank running the process on their behalf.
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But a host of investment firms also remain in the running, with offers to purchase a minority stake on the table.
The Glazers announced in November they would explore "strategic alternatives," which could include a full sale or investment.
Should the Glazers decide to stay in control at United, sources have told ESPN they would need to raise significant capital to begin the redevelopment of Old Trafford and make improvements to the club's Carrington training complex.
American based investment firm Carlyle, U.S. hedge fund Elliott Management, American investment group Ares Management Corporation and U.S. global investment firm Sixth Street are among the groups who have made offers to purchase a minority stake.
The takeover bid made by Ratcliffe and INEOS, his chemical company, is for a majority of the club's shares while allowing co-chairmen Joel and Avram Glazer to retain a minority holding.
Sheikh Jassim's offer is for 100% of the club, with the promise to clear all debt and provide investment for the playing squad and infrastructure.
Sources have told ESPN that interested parties are hoping for clarity on the situation from the Glazers and Raine this week.