A consortium of international investors, which involves a member of the Saudi royal family, has made a £400m offer to buy Premier League club Everton.
Farhad Moshiri agreed to sell his 94% stake to 777 Partners in September, but the investment firm could not complete the deal, opening the way for others to make a takeover bid.
Local businessmen Andy Bell and George Downing, as well as MSP Sports Capital - who have lent the Toffees around £158m - are also in the running for a period of exclusivity after lodging bids.
London-based businessman and lawyer Vatche Manoukian is leading a bid alongside an unnamed Saudi royal and families with a high-net worth from the United States.