Qatar's Sheikh Jassim submits improved £5.5 billion bid to buy Manchester United

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.

Sheikh Jassim bin Hamad Al Thani, left, pictured during the draw for the 2022 World Cup in Qatar at the Doha Exhibition and Convention Center on April 1, 2022. AFP

Mr Ratcliffe’s last bid was thought to be for a stake of a little over 50 per cent, leaving Avram and Joel Glazer, two of the siblings who collectively own a majority share, with a 20 per cent stake – a proposal that has been met with disdain by many United supporters.

Officials and staff inside Old Trafford are eager for clarity over the takeover situation, which began in November when United announced that the board was exploring “strategic alternatives” to enhance the club’s growth, with a full sale one option being considered.

Sheikh Jassim was the first prospective owner to publicly confirm a bid during the first round in February and was soon joined by Mr Ratcliffe, the Manchester-born owner of Ineos.

The first quarter of the year was initially