Sheikh Jassim bin Hamad Al Thani has reportedly made an improved offer of approximately £5 billion to acquire Manchester United. Sources reveal that a fresh bid was submitted on Tuesday morning during ongoing discussions involving the Raine Group, who are managing the sale of the club.

Sheikh Jassim, a Qatari banker, and Sir Jim Ratcliffe’s Ineos Group are the two main contenders seeking to purchase the renowned Old Trafford club. Both parties had submitted their third bids at the end of April.

The latest offer is said to cover the complete ownership of the club, including clearing United’s debt, along with a dedicated fund specifically allocated to the club and the local community. As of March, United’s outstanding obligations amounted to £969.6 million, consisting of gross debt, bank loans, and unsettled transfer fees.

In November, the Glazer family, owners of Manchester United, announced their contemplation of selling the club as they explore strategic alternatives. Although there has been no response from the Glazers since the last bid deadline in late April, there is growing confidence within the Ineos camp that their bid to acquire United will be successful.

It is understood that one of Ratcliffe’s proposals is to reduce the amount of United he intends to purchase from an initial 69% stake of the Glazer holding to just over 50%, enabling co-chairmen Joel and Avram Glazer to retain some level of involvement. Avram Glazer recently attended the Carabao Cup final in February and observed United’s women’s team losing the FA Cup final to Chelsea at Wembley on Sunday.

Subsequently, Glazer visited a London hotel owned by Sheikh Jassim’s father, which sparked further speculation regarding the sales process. However, BBC Sport sources indicate that no discussions involving the Raine Group took place during the visit.

There is currently no indication as to when the Glazer family will make a decision regarding the future direction of Manchester United. They initially acquired the club for £790 million in 2005 and have estimated its value to be between £5 billion and £6 billion.

While it was anticipated that an announcement could be made this week, considering the imminent opening of the transfer window, providing manager Erik ten Hag with clarity on his summer budget, there is no guarantee that this timeline will be met.