Manchester United

Sheikh Jassim recently submitted a second offer for the 20-time English champions, with the Qatari banker determined to win the race to buy the club despite strong competition from Sir Jim Ratcliffe.

The exact value of the Qatari's second bid is unknown, although it is thought to be worth in the region of £5bn, which would still be short of the Glazer family's original asking price of £6bn.

The Glazer family are working with US bank Raine Group on a potential sale, and it is believed that an update to the bidders could be provided before the end of the week.

However, according to Bloomberg, senior officials for the UK government have concerns over Sheikh Jassim's previous business record.

The report claims that particular scrutiny has been placed on the Qatar Islamic Bank, notably the £1.4m fine that was issued by the Bank of England in 2016.

Sheikh Jassim has been the chairman of the QIB since 2006, and the fine was related to 'a violation of capital requirements that had left the bank exposed to high risk levels', according to The Mirror.

However, the UK Government allegedly have no plans at this stage to block the Qatari's bid for Man United.

Sheikh Jassim is attempting to buy 100% of the club, and his offer includes clearing the debts at Old Trafford.

"The bid plans to return the club to its former glories both on and off the pitch, and - above all - will seek to place the fans at the heart of Manchester United Football Club once more," read the statement from Sheikh Jassim's consortium when the first offer was presented.

"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 vision of the bid is for Manchester United football club to be renowned for footballing excellence, and regarded as the greatest football club in the world."

Ratcliffe has also submitted a second offer for the Red Devils, while Finnish entrepreneur Thomas Zilliacus has said that he is in the running to purchase the club from the Glazers.

Any sale is expected to be completed before June, although there remain reports that the Glazers could ultimately decide to keep hold of the club.