Both teams have had bids of £20m rejected, and it is thought that Newcastle may up their offer for Rooney to £23.5m. This should prompt a further bid from Man United.
This bidding war can only be good for Everton, Alex Ferguson does not want the bext young player in England signing a 5 year contract with anyone (except maybe us), so they will not let him sign for Newcastle. From what we hear, Newcastle can go to around £28m for the player, which means that Manchester United may be forced towards Everton target of £30m. As much as I hate to say it, that would be good business for Everton.
More news as we get it, but I would expect some rapid developments before the weekend.