Manchester United takeover: Sir Jim Ratcliffe to submit improved bid before deadline

Sir Jim Ratcliffe’s INEOS group will submit an improved bid for Manchester United by tonight’s deadline, The Independent understands.

Bidders for Manchester United have until 9pm tonight to submit their second offers for the club, in what is a crucial stage of the takeover process.

The Independent has reported that Qatari banker Sheikh Jassim Bin Hamad Al Thani is also prepared to up his bid for the Old Trafford club.

Both parties - which are the only groups to publicly declare their interest - visited Manchester United for meetings last week.

Bids will be handled by the Raine group, but it is understood the Glazer family are split over whether they want to sell the club or retain minority ownership.

While the Qatar and INEOS bids are on the table, a third option would be raising funds through minority investors for renewed investment into the club.

The Glazers would want a record £6bn for the club if they decide to sell - a fee The Independent understands the Qatar group are prepared to match.

INEOS have the funds to compete with the Qatar bid but it has been reported Ratcliffe has held concerns over the price rising too high.