The revised bids to buy Manchester United will fall short of the Glazer family's valuation, although there is still hope a buyout can happen, sources have told ESPN.

Second offers were lodged by interested parties last week, including from public bidders Sheikh Jassim Bin Hamad Al Thani, Sir Jim Ratcliffe and Thomas Zilliacus.

Sources have told ESPN that bids from Sheikh Jassim and Ratcliffe have been increased from around £4.5 billion but remain below the asking price of around £6bn — although there is hope that the Glazers might still accept a compromise fee to allow a takeover at Old Trafford.

After the latest round of offers, bidders are waiting to hear from Raine Group, the U.S. bank working with the Glazers, on what the next stage of the process will look like. Raine could invite a third round of offers or name a preferred bidder.