Sheikh Jassim bin Hamad Al Thani has submitted an improved bid in his attempt to buy Manchester United from the Glazer family, according to several reports.
The Guardian said that the Qatari banker had upped his bid to buy the Premier League giants to £5.5 billion ($6.84 billion), which includes clearing a £1 billion debt and a fund solely for the club and surrounding community.
The Times, meanwhile, reported that Sheikh Jassim was offering to buy 100 per cent of the club for a price nearer to £5 billion.
Manchester United's shares were up 1.2 per cent when trading closed on Tuesday. Both Sheikh Jassim, the chairman of Qatar Islamic Bank and the son of a former Qatari prime minister, and his rival Sir Jim Ratcliffe had submitted what had been expected to be their third and final bids for the club last month.