(March 25): Sheikh Jassim bin Hamad Al Thani has submitted a new bid to buy Manchester United which is believed to be worth around £5 billion (RM27 billion), Sky News reported on Saturday (March 25).

Sheikh Jassim, a son of Qatar’s former prime minister, launched the bid in February. A spokesperson representing Sheikh Jassim said at the time that the bid was completely debt free, via Sheikh Jassim's Nine Two Foundation.

Finnish entrepreneur Thomas Zilliacus also placed a bid on Thursday and told Reuters that he was willing to pay a premium for the English football club.

United's current owners, the Glazer family, began looking at options for the record 20-times English champions in November, including new investment or a potential sale, 17 years after they bought the Old Trafford club.

Manchester United did not immediately respond to a Reuters request for comment.