Raine Group - the investment firm in charge of the sale - set a soft deadline of 10pm last Friday (February 17) for official interest to be formalised.
Sheikh Jassim - the chairman of one of Qatar’s biggest banks and son of former Qatari prime minister Hamad bin Jassim bin Jaber Al Thani - was the first to table his offer.
Less than an hour or so later, British billionaire Sir Jim Ratcliffe, a boyhood Man United fan, was the next to put his money where his mouth is.
Ahead of any further developments, we take a look at the reported wealth of Sheikh Jassim and Sir Jim - compared to Newcastle United and other Premier League owners.
The Magpies take on Man United in the Carabao Cup final at Wembley tomorrow.
1. 22nd: Brentford - Matthew Benham
Reported net worth: £25m Photo: Clive Rose
2. 21st: Nottingham Forest - Evangelos Marinakis
Reported net worth - £505m
3. 20th: AFC Bournemouth - Bill Foley
Reported net worth: £1bn
4. 19th: Southampton - Dragan Solak and Katherina Llebherr
Reported net worth: £1.05bn