Qatar consortium submit second bid to buy Manchester United from The Glazers - Reports

The Qatari consortium led by Sheikh Jassim bin Hamad al-Thani has submitted their second bid to buy Manchester United.

It was initially expected that Sheikh Jassim's team would finalize and submit their bid before the end of the business week on Friday. The bid remained outstanding on Friday night, but sources close to the Qatari group were adamant that it would be forthcoming, and so it proved overnight.

According to Sportsmail (via Daily Mail), the finer details of the Qatar bid were merely being ironed out, which was the likely cause for the delay. US merchant bank Raine Group, which is handling the purchase process, had given all interested parties extra time following the initial deadline on Wednesday.

The Qatari group was one of the first to express their interest in buying the club after the Glazer family announced last year that they were seeking "strategic alternatives," potentially including a sale. British billionaire Sir Jim Ratcliffe has also been among the frontrunners for the takeover, with his Ineos Group also submitting an improved bid this week.

Those who are acquainted with the inner dealings within the Glazer family have revealed that they have set a massive price tag on Manchester United - a seemingly unrealistic sum of over £6 billion. However, both the Ratcliffe offer and the Qatar offer are believed to be around £5 billion, a billion pounds short of what is reported to be the Glazers' target.

Raine Group has received several offers for a minority stake in the club, rather than full ownership. These smaller offers would potentially allow the Glazers to rebuild Old Trafford and Carrington, while remaining in control of the club's ownership. The bidders should hear back from Raine Group in about seven days.

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Thomas Zilliacus joins the race to buy Manchester United

According to the Mirror, Finnish entrepreneur Thomas Zilliacus has joined the race to acquire Manchester United. The billionaire has reportedly presented a one-of-a-kind proposal, "which includes fans involvement in never before seen ways," he said in a statement.

Hailing from the vibrant city-state of Singapore, Zilliacus has a past record of owning a football club in his motherland. The 69-year-old sports enthusiast is now poised to compete with two notable figures - Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al Thani - in the battle to take over Manchester United.

While the exact valuation of Zilliacus' fortunes remains undisclosed, it appears that he doesn't possess the same amount of wealth as either the British tycoon Ratcliffe or the Qatari consortium.

In a statement, he appealed to both parties to "join forces" so they can "buy the club together and that way channel more money to the club."