The Qatarian Side have Made a Second Bid to Takeover Manchester United from the Glazers.

Qatari Sheikh Jassim bin Hamad Al Thani has submitted a new bid to buy Manchester United, according to UK media reports.

The chairman of Qatar Islamic Bank placed a second-round offer overnight, the Press Association and the BBC reported.

The offer is believed to be worth about 5 billion pounds ($6.12bn), Sky Sports News reported

Jassim, a son of Qatar’s former prime minister, launched the bid in February. A spokesperson for the sheikh said at the time that the bid was completely debt-free and made via Jassim’s Nine Two Foundation.

British billionaire Jim Ratcliffe submitted a revised bid on Thursday as Finnish entrepreneur Thomas Zilliacus entered the race to own the Old

Trafford club.

Bidders were initially told they had until 21:00 GMT on Wednesday to submit new offers, but that deadline was reportedly extended.

One or more of the initial bids were understood to be in the region of 4.5 billion pounds ($5.5bn).

Such a price would make Manchester United, which have not won the Premier League for a decade, the most expensive sports club in history although it would be short of the 6-billion-pound ($7.3bn) valuation reportedly placed on United by its current US-based owners, the Glazer family.

Jassim and Ratcliffe, the founder of chemicals giant INEOS, remain the front-runners to buy United should the Glazers give up control of the club.

Zilliacus entered the race on Thursday with a bid that he said would give fans the chance to own 50 percent of the club.

“My bid is built on equality with the fans,” Zilliacus, founder and chairman of the investment company Mobile FutureWorks, said in a statement.

The Glazers have angered many United supporters by saddling the club with huge debts since they took over in 2005. They appeared ready to cash out at an enormous profit when they invited external investment in November.

However, they could yet shun the option of selling a controlling stake in the club as other parties are understood to be interested in minority shareholdings.

The Times reported US hedge fund Elliott Investment Management, which sold AC Milan for $1.3bn last year, has made a bid for a minority stake.

A first round of bidding took place last month, and it has been reported there are as many as eight potential investors in the club.