Leading British businessman Sir Jim Ratcliffe and a Qatari sheikh are among the bidders for Manchester United, which could fetch £6billion.
Sir Jim wants all 69% of the Glazer family stake, and may also seek to buy the rest of the shares which are traded on the New York Stock Exchange.
Although there is no mention on infrastructure in his statement, Sky Sports News understands Sir Jim is committed to redeveloping Old Trafford.
As previously reported, he is believed to have been working with Goldman Sachs and JP Morgan - but any debts from the takeover would not be loaded onto the club, as was the case with the Glazers.
Sir Jim is chairman of global chemical company INEOS.
He is a United fan, but also tried to buy Chelsea last summer.
Other interests
Sir Jim also owns cycling team INEOS Grenadiers, Ligue 1 side Nice, FC Lausanne-Sport, a Swiss Super League clubiand owns a third of the Mercedes Formula 1 team.
Also bidding for United is Qatari Sheikh Hamad bin Jassim bin Jaber Al Thani.
He is confident he has made a compelling bid and that it is not linked to Qatar Sports Investments nor the Qatar Investment Authority.
The Qatari bid for United would wipe out all the club's debts, which still stand at £515million net following the Glazer family's leveraged buyout in 2005 of £790million, funded with borrowed money.
Sky Sports News is told the Qatari bid believes it is the best offer on the table, not just in terms of price but also regarding the commitment in investing in the men's and women's teams, the stadium and training ground and the redevelopment of the area around Old Trafford.
It was also revealed on Saturday night that US hedge fund Elliott Management has lodged a proposal regarding United.
Elliott move
This is not a bid for control of the club, but involves possible financing.
The proposal could involve Elliott taking a stake in United or providing debt financing, or a mix of both.
The Glazer family are seeking a full or partial sale or a partnership with third parties.
Sky Sports News' Kaveh Solhekol said: "We've got two owners fighting it out for Manchester United. I think there will be developments and we will hear about more bidders, but these are very different bids.
"Qatar - (are) people who have almost unlimited wealth, who don't even need the backing of investment banks to do this deal - and then we have Sir Jim Ratcliffe who is going to emphasise the fact he's British, that he was born in Greater Manchester, that he has been a Manchester United supporter all his life.
"The Qataris are saying they want to make Manchester United great again, I think Sir Jim will say 'I want to put the Manchester back into Manchester United' and it's important Manchester United, a great English institution, is owned by an English businessman.
Sportswashing v greenwashing?
"If the battle turns out to be between Qatar and INEOS, will it be a question of sportswashing versus greenwashing?
"Qatar will have serious questions to answer about human rights, LGBTQ+ rights and also the ownership structure of the bid.
"INEOS will have questions to answer about whether they use sport acquisitions to greenwash their image as an operator of polluting industries."
FTSE 100
The UK's top share index, the FTSE 100, was up nine points at 8,013 shortly after opening this morning, following Friday’s eight-point loss.
Brent crude futures were 0.96% higher at $83.83 a barrel.
Companies reporting today
- Half-year results: BHP Group