Man Utd takeover breakthrough as Sheikh Jassim 'willing to pay £6bn' to beat Jim Ratcliffe

A potential Manchester United takeover is reportedly drawing closer, with Sheikh Jassim bin Hamad Al Thani set to hit the Glazers' £6billion asking price. The current owners have set a 9pm deadline on Wednesday for second offers and it looks like the Qatari party is set to go big to beat Sir Jim Ratcliffe and his INEOS group at the keys of Old Trafford.

United first went on the market in November after the Glazer family announced they were "initiating a process of exploring strategic alternatives" for the club. Options ranging from "bringing in new investment into the club, a sale or other transactions involving the business" were to be considered with interested parties invited to come forward.

The Raine Group, which is overseeing the process, last month set a soft deadline for initial offers, with Sheikh Jassim and Ratcliffe the only two parties to have publicly confirmed their interest in a full takeover.

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Discussions between United officials and representatives of the two groups took place last week and new offers are now expected before Wednesday's deadline. Reports that the Qatari bid may now have the upper hand, with Sheikh Jassim set to match the Glazers' £6bn asking price, while Ratcliffe is reluctant to enter a major bidding war.

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Once revised bids are received, The Raine Group will select a preferred bidder and the successful bidder will be given increased access to club materials. This will give the frontrunner the opportunity to do more due diligence before closing a sale offer with the current owners.

The Qataris' willingness to pay full price puts them in the driver's seat, with Ratcliffe keen to stress that he won't pay more than expected for the club he supports.

Speaking to the Wall Street Journal, he said: "How do you determine the price of a painting? How do you determine the price of a house? It has nothing to do with the cost of construction or building paint," Ratcliffe said. "What you don't want to do is pay stupid prices for things because you'll regret it later."

Significant moral questions remain over the Qatari bid, with critics saying it would amount to a state takeover of the club, similar to what happened with PSG, Manchester City and Newcastle.< /p>

There are also allegations of sportwashing, buying the Red Devils in an attempt to distract from the country's questionable human rights record and bolster the state's global image.