Following a series of high-level meetings last week, a second round of bids to purchase Manchester United is expected to take place on Wednesday.

Sheikh Jassim bin Hamad Al Thani and Jim Ratcliffe both met with United executives and toured the club's facilities, while Elliott Management held separate discussions related to finance options for a potential takeover bid. The price tag for United is anticipated to be around $6 billion, which would make it the most expensive sports team in history.

However, potential new owners may also have to invest up to $1 billion for stadium redevelopment. Currently, Sheikh Jassim and Ratcliffe are the only bidders who have publicly announced their interest in the 20-time English league champions.

Nonetheless, the Glazers might not pursue a full sale of the club and instead explore other "strategic alternatives." Last year, Raine facilitated the sale of Chelsea for about $3 billion to Todd Boehly and Clearlake Capital, while the Denver Broncos were sold for a record $4.65 billion to Walmart heir Rob Walton and his daughter and son-in-law.