Manchester United takeover: New, improved bid from Sheikh Jassim submitted - Reports

English giants Manchester United is on the verge of being taken over after the Glazers put the club for sale last November. After the initial bids were placed last month, Wednesday was the deadline for the second improved bids from interested parties. However, British billionaire Sir Jim Ratcliffe and Qatar's Sheikh Jassim bin Hamad Al Thani sought an extension, which was granted.

While Ratcliffe placed his bid on Thursday, Al Thani had to wait till Saturday to place his fresh bid. In the meantime, it is considered the best bid so far, with the proposed deal being around £6 billion, which is precisely the asking price from the Glazers. Besides the said two parties, bids have been received from several other parties for the minority stake, including Elliott Investment Management - the former owners of Italian champion AC Milan, and Finnish businessman Thomas Zilliacus.

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As per 90min, it would take a week for the Raine Group, handling the sale process, to analyse the best bids and announce the successful bidder. At the same time, the takeover is likely to be completed by the end of the ongoing season, before the summer transfer window opens in June. The American owners had previously affirmed that provided the £6bn valuation is not met, they would be backing out from the sale process.