A determined Sheikh Jassim bin Hamad Al Thani is set to step up his bid to buy Manchester United as he looks to blow his competitors away.
It has been reported that United’s current owners, the Glazer family have set a deadline of 9pm on Wednesday for any interested parties to make new bids.
At this stage, it is believed that Sheikh Jassim and Ineos boss Sir Jim Ratcliffe are the frontrunners for the keys to Old Trafford.
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According to the Daily Mirror, Sheikh Jassim has upped his bid to around £5.5 billion, whilst Ratcliffe has also increased his offer, it has been reported that he has not gone as high as the Qatari offer.
Once the new deadline passes, a preferred bidder will be picked out by Raine, the US investment bank who are leading the sale on behalf of the Glazers.
The identified bidder will then gain further access to a range of club documents for full due diligence to be carried out before any sale can be concluded.
Last week, representatives of Sheikh Jassim and Ratcliffe himself was pictured arriving for talks with United officials, including chief executive Richard Arnold.
During an interview with the Wall Street Journal, Ratcliffe declared he will not pay stupid money for United.
He said: “How do you decide the price of a painting? How do you decide the price of a house? It’s not related to how much it cost to build or how much it cost to paint.
“What you don't want to do is pay stupid prices for things because then you regret it subsequently.”
The Ineos boss also added that his interest in buying the Red Devils was ‘purely in winning things’.
However, Ratcliffe will face a huge task in outbidding the Qataris, who have proposed a 100 per cent buyout of the club and have promised to clear all historic debt amassed by the Glazers.
On the pitch, United have been in good form this season as Erik ten Hag has led them to Carabao Cup glory, and they are still fighting in both the FA Cup and the Europa League.
Who will be successful in buying United? Only time will tell.
Topics: Manchester United, Football, Qatar
Marcus Chan