Inside story of what happens with Manchester United takeover next after Qatari and Sir Jim Ratcliffe bids

There was tangible excitement among Manchester United fans on Friday, February 17, a date which has the potential to be significant.

That's because the Glazers set February 17 as the soft deadline for formal takeover proposals to be submitted, following their announcement in November they were exploring 'strategic alternatives' for the club, which could include selling it.

It has taken 18 years to get here. The Glazers became majority shareholders at Old Trafford in 2005 through a leveraged buyout and supporters, who have regularly protested against their ownership, can finally see light at the end of the tunnel.

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Those who have protested, like the 10,000 who marched against the Glazers among waves of green and gold in August last year, have longed for their club to be sold and it's now more likely than ever that the keys to Old Trafford will be handed over.

The Glazers are willing to pack their bags for the right price and they received two formal proposals, from Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe, on February 17, which means it appears to be a two-horse race for the club.

Sheikh Jassim is chairman of one of Qatar’s biggest banks and Ratcliffe is Britain's wealthiest man. Both have the necessary capital to invest, yes, but their proposals, outlined by their respective statements, are understood to be different.

The Qatari-led bid promised to return the club to 'former glories' by purchasing 100 per cent of the club, whilst Ratcliffe, who represents the British bid, is understood to be interested in acquiring 69 per cent of the shares.

That would make him the majority shareholder, just as the Glazers are now, but regardless