Sky Sports News understands that Manchester City have tabled a shock bid for Tottenham striker Dimitar Berbatov.
City's offer for Berbatov is reported to be in excess of £30million and would set a new British transfer record.
The Bulgaria international has been a target for Premier League champions Manchester United throughout the summer, but City have now stepped in with an audacious last-minute move.
Berbatov has been left out of Juande Ramos' plans for the club's last two matches, with the coach feeling his presence was a disruptive influence on the rest of the squad.
United boss Sir Alex Ferguson admitted at the end of last week he was unsure if the deal would go through before Monday's midnight deadline.
But talks between the two clubs were believed to be ongoing as the clock ticked down.
However, City have now joined the race and are looking to hijack the move, having earlier sold Vedran Corluka to Spurs.
The news comes on a dramatic day at Eastlands as Abu Dhabi United Group say they have completed their takeover of the club.
Ramos is eager for the long-running saga to be resolved, and hinted he already has replacements in the pipeline should Berbatov move on.
He told Sky Sports News: "I don't have much more information than yesterday, talks are ongoing, but this is as much as I know.
"One way or the other, I hope it's finalised today.
"At this moment, Berbatov is still a Spurs player, but if he were to leave it would be reasonable to expect another forward to come.
"There are some candidates that we can't comment on, but if he were to leave we would be looking, yes."