Qatar Sheikh makes Man United bid as billionaire Ratcliffe confirms offer

A consortium led by a Qatari banker is leading the chase to buy Manchester United, with British billionaire Jim Ratcliffe joining the race after confirming his bid for the Premier League club on Saturday.

Sheikh Jassim Bin Hamad Al Thani confirmed his submission of a bid for "100 percent of Manchester United Football Club" ahead of Friday's "soft" deadline for offers.

Ratcliffe had already expressed interest in United several weeks ago and his Ineos company followed the Qatari offer by officially submitting their own bid.

The 70-year-old is keen to expand a sporting portfolio that already includes French side Nice and Swiss team FC Lausanne-Sport, as well as the cycling team Ineos Grenadiers, formerly Team Sky.

"We can confirm that Sir Jim Ratcliffe and INEOS have submitted a bid for majority ownership of Manchester United Football Club," Ineos said in a statement to AFP.

Ratcliffe, born in Failsworth, Greater Manchester, is one of Britain's wealthiest people, with an estimated net worth of £12.5 billion ($15 billion) following the success of his global chemical company.

The boyhood United fan, who made an unsuccessful bid to buy Chelsea last year, has vowed to restore the Old Trafford club to their former glory after 10 years without a Premier League title triumph.

"We would see our role as the long-term custodians of Manchester United on behalf of the fans and the wider community," the Ineos statement said.

"We are ambitious and highly competitive and would want to invest in Manchester United to make them the number one club in the world once again.

"We also recognise that football governance in this country is at a crossroads. We would want to help lead this next chapter, deepening the culture of English football by making the club a beacon for a modern, progressive, fan-centred approach to ownership.

"We want a Manchester United anchored in its proud history and roots in the North-West of England, putting the Manchester back into Manchester United and clearly focusing on winning the Champions League."

US merchant bank the Raine Group are conducting the sale on behalf of United's American owners, the Glazer family, with the cost of purchasing one of the world's most iconic teams expected to reach around $6 billion.

That would smash the record fee for a football club, set by Chelsea last year.

A consortium led by LA Dodgers co-owner Todd Boehly and private equity firm Clearlake Capital paid £2.5 billion for the Blues, with a further £1.75 billion promised in further investment in infrastructure and players.

A bid from Saudi Arabia had also been expected, but offers other than Ratcliffe's and the Qatari bid have yet to be confirmed.

The statement from Sheikh Jassim, chairman of Qatar Islamic Bank (QIB), did not give any details on the amount proposed in the bid for United.

The bid will be "completely debt free" via Sheikh Jassim's Nine Two Foundation, which will "look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the club supports".

The 41-year-old Sheikh Jassim, educated at Britain's elite Royal Military Academy at Sandhurst, claims to be a long-time United fan.

The Glazer family announced in November they were open to a sale of or investment in the record 20-time English champions, prompting talk of a bidding war between Qatari and Saudi Arabian interests.