Gillett and Hicks wrote to shareholders on February 19 to extend their offer of £5,000 per share, giving them 21 days to respond. That period runs until Monday and, having already secured a 62 per cent shareholding by buying the stakes held by David Moores, the former chairman, Terry Smith, a director, and ITV Sport, the Americans are expected to announce that their "Kop Football" vehicle has obtained the 75 per cent approval that would represent unconditional control.
It is not yet clear whether the largest remaining shareholder, Steve Morgan, founder of the Redrow property empire, has agreed to sell his 6 per cent stake. Should he do so, Gillett and Hicks, who were at Anfield to watch Liverpool eliminate Barcelona from the Champions League on Tuesday, will move closer to the 90 per cent threshold that would lead to a compulsory buyout of remaining shares.
It seems increasingly likely that Manchester City will become the fourth Barclays Premiership club to come under American ownership. A consortium, whose identity remains a secret, has been in Manchester this week to hold talks about the possibility of buying the 29 per cent stake held by John Wardle, the chairman, and David Makin, his business partner.