Sky Sports chief reporter Kaveh Solhekol has dropped the latest update on the status of the bidding process for Manchester United.

Last week, it was confirmed that two bids had been placed for the club, both from the foundation of Qatari investor Sheikh Jassim, and Sir Jim Ratcliffe and Ineos.

It is unclear at this stage as to how much each party has offered for United, although it was reported by The Sun that the club’s current owners, the Glazer family, will refuse to sell for less than their £6 billion asking price.

If that asking price is met, the sale of United would be the biggest ever, in terms of cost, for a sports franchise, beating the £4.25 billion that a Todd Boehly-led consortium paid to acquire Chelsea last year.

There was a third offer placed on Saturday by US hedge fund Elliott, but The Times say it is an offer to provide financing for a bid, rather than a full takeover proposal.

United legend Gary Neville, meanwhile, spoke about the potential takeover on Sunday, and told Sky Sports that the ‘biggest concern’ for some supporters is the Glazers staying on at the club after the process is complete.

Now, Sky reporter Solhekol has given the latest news on the process.

Sky reporter reveals new Man Utd takeover update

Speaking on Sky Sports News on Monday, the reporter explained that, as per sources, interested parties will not offer ‘crazy money’ to buy United, which could put a spanner in the works when it comes to a sale of the club.

He said: “The really important thing here is, what do the Glazer family want to do?

“Do they actually want to sell Manchester United? Or do they just want to sell a minority stake in the club, and use that money to redevelop Old Trafford?

“Do they feel that now is not the right time to sell Manchester United? Ultimately, it’s up to them.

“What we’re being told is that the bidders for United are not going to pay crazy money for the club. They are not going to dance to the Glazers’ tune. They have a valuation of what they believe Manchester United is worth, and they won’t pay more than that.”