Under the new Coalition government, a competitive bidding process ensued with 18 bidders entering at the first round stage. On 31 January 2011, the government announced that a short-list had been drawn-up for the next round of the process but declined to confirm which bids were on it. There were believed to be five, including Betfred, David and Simon Reuben, Gala Coral Group, Sports Investment Partners led by Sir Martin Broughton and a foundation set up by the existing management, although there were indications of a sixth. Stan James was suggested as this sixth party but declined to comment when asked. In May 2011 it was reported that only two bidders remained in the process, Betfred and Sports Investment Partners. On 3 June 2011, it was confirmed that Betfred had been chosen by Culture Secretary Jeremy Hunt as the successful bidder, for a reported figure of £265m. The sale process was completed on 13 July 2011.