Speaking in the Yorkshire Post, Sainsbury said: "As far as I am concerned, this is nonsense. This is a new condition and a change of tack. But if that is what they want, then we will endeavour to put together proof of funds within the next 24 to 48 working hours.
"We showed our intent on Tuesday morning when Burl Sheppard, Michael Lucas, Bradley Ray (Nova officials) and myself formally agreed in front of lawyers from both sides that we would sign an unconditional contract whereby within 24 hours we would deliver a £500,000 non-refundable deposit. Gerald Krasner and Melvyn Levi were present.
"Another £2m would then be delivered on Friday (today) with the remaining £22.5m balance to be delivered on Friday, November 5. If the second payment did not materialise they could keep the £500,000. That is the basis we were working on and at no time were we asked to provide proof of funds. They agreed to provide us with a letter of intent to sell, but we didn't receive it."
Sainsbury's consortium plan to buy back United's Thorp Arch training ground, hand manager Kevin Blackwell money for new players and hold on to Elland Road.