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.
21. 2nd: Manchester United (potential new owner) - Sheikh Jassim Bin Hamad Al Thani
Reported net worth: (family worth £275bn) | Manchester United via Getty Imag
22. 1st: Newcastle United - Saudi Arabia Public Investment Fund, PCP Capital Partners, RB Sports & Media
Reported net worth: £479bn Photo: OLI SCARFF