Sheikh Jassim submitted revised offer for Manchester United overnight, it's a 'world-record bid'

Sheikh Jassim Bin Hamad Al Thani has submitted an improved second offer for Manchester United; a world-record bid that has been described as highly competitive and rational.

Qatar Islamic Bank chairman Al Thani, 34, and British billionaire Sir Jim Ratcliffe are considered the two leading candidates to complete a takeover of the Premier League club.

Sheikh Jassim’s representatives visited Old Trafford last week as part of ongoing talks, while boyhood United fan Ratcliffe was also spotted at the Theatre of Dreams for negotiations.

Manchester United initially had a 9pm deadline in place on Wednesday for the latest round of bids as part of a potential sale of the club, but the deadline was extended after both parties requested more time to fine-tune their submissions.

The Glazer family, who confirmed in November that they would consider selling the club, are believed to be holding out for £6 billion.

With that in mind, Ratcliffe and his chemicals firm INEOS submitted a revised bid for United on Thursday, according to reports, while Sheikh Jassim made an improved offer on Friday night-Saturday morning.

That's according to Sky reporter Kaveh Solhekol, who confirmed: "Sheikh Jassim improved second bid for Man United described as highly competitive and will remove all debt from the club.

"Glazers want at least £6bn. Qatar bid also said to be considered and rational. Highest first round bids were around £4.5bn."

As mentioned above, the initial bids from Sheikh Jassim and Sir Jim Ratcliffe were not thought to have surpassed £5 billion during the first round ‘soft’ deadline on February 17.

But a report from talkSPORT suggests Sheikh Jassim's latest bid is believed to be more than £5 billion.

Last month, lifelong United fan Sheikh Jassim Bin Hamad Al Thani explained the changes he wants to make at Old Trafford.

Ali Thani, the chairman of Qatar bank QIB and part of the ruling royal family who have a collective net worth of around $335 billion, said he wants to restore the club to its former glory, both on and off the pitch.

The takeover would also result in investment in the football teams, training centre, stadium and wider infrastructure, as well as the overall fan experience.

Here is the statement in full:

"Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club.

"The bid plans to return the club to its former glories both on and off the pitch and - above all - will seek to place the fans at the heart of Manchester United Football Club once more.

"The bid will be completely debt free via Sheikh Jassim's Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience, and communities the club supports.

"The vision of the bid is for Manchester United Football Club to be renowned for footballing excellence, and regarded as the greatest football club in the world.

"More details of the bid will be released, when appropriate, if and when the bid process develops."