Sheikh Jassim bin Hamad Al Thani is planning to directly approach the Glazers in a last-ditch bid to beat Sir Jim Ratcliffe to the takeover of Manchester United.
Qatari banker Sheikh Jassim and British billionaire Ratcliffe are thought to be the two frontrunners to buy the Premier League giants. The latest deadline for improved bids passed on Friday night, with the Glazers now assessing how to proceed.
There is a chance they could yet retain full control of the Red Devils, while Ratcliffe is offering to keep them on as minority shareholders. That appears to have placed him in pole position in the race to buy the club, though Sheikh Jassim is now planning a final effort.
According to CBS Sports, the Qatari has not 'given up' hope of buying out the Glazers. He is pursuing a deal through his Nine Two Foundation and is planning to remove the club of all of its debts.
Now, with Ratcliffe pulling ahead, he is weighing up going directly to the Glazers in an attempt to strike a deal. That would mean removing the intermediaries on their side or even bypassing the Raine Group, who are handling the proces on behalf of the Glazers.
The bidders, including the Nine Two Foundation are now awaiting feedback from the Raine Group before proceeding. It has been indicated that direct negotiations will not take place until a preferred bidder is named, but Sheikh Jassim is not ruling out an approach sooner.
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The Qatari is facing some challenges though, with 'huge confusion' remaining over the Nine Two Foundation's offer. They are facing questions over whether the investment they are plegding to make is on top of or part of the £5billion bid they have made.
The Nine Two Foundation are said to be insisting their offer is competitive, with a preferred bidder yet to be named. It is thought Ratcliffe is pulling ahead slightly, having submitted a higher offer.
The billionaire is keen to gain control and is exploring a variety of structures to achieve that. He is bidding through his Ineos chemical giant company and their experience is seen as a key part of their bid.
Ratcliffe is already preparing on boosting United's staff with a move for Monaco sporting director Paul Mitchell. But while there is still a 'real chance' a preferred bidder is named from Sheikh Jassim and Ratcliffe, it is not a straight race between the duo.
At least four investment firms are bidding to inject cash into United, with the Glazers remaining as owners. They did not have a deadline for Friday and remain well in contention to be a rival method of investment.
All options are on the table, which is seen as being the expectation at this stage of the process. But it appears that Sheikh Jassim must improve his bid to stand a chance of beating Ratcliffe, with the ball now in the Glazers' court.
