Billionaire Richard Branson, banker Luqman Arnold and an in-house team will pitch rescue bids for bank Northern Rock by Monday's deadline, but politics and financial frenzy make a winner hard to predict.
Branson's Virgin Group has been portrayed as the British government's preferred bidder yet many shareholders have supported Arnold's investment group Olivant and the in-house proposal has gained credibility in the past month.
All three have resolved to submit proposals by Monday.
A surprise bidder could enter the auction at the last minute, although deepening turbulence in the financial market and the tight deadline make that unlikely.
The decision on who is picked could rest with prime minister Gordon Brown.
The government is guaranteeing about £25 billion of financing available to all bidders, tying it to Northern Rock's fortunes for years to come.
The financing plan is likely to mean all rescuers will implement a low-risk strategy in the coming years, resulting in Northern Rock's mortgage book shrinking and the business stabilising before any more aggressive lending is considered.