The Qatari takeover bid for MU is still ongoing.

Manchester United announced last November that the board was considering "strategic alternatives to enhance the club's development," with selling the entire team being one of the options.

A Qatari businessman and his investment group are reportedly the most likely to acquire Manchester United.

The current owners, the Glazer family, are reportedly valuing MU at £6 billion, and the Raine Group has been brought in to oversee the process.

Qatari businessman Sheikh Jassim Bin Hamad Al Thani submitted his fifth and final offer to Manchester United last week. The Qatari offer attracted more attention from the MU owners than that of British billionaire Jim Ratcliffe. Recent reports suggest that if exclusive rights are granted to Sheikh Jassim, it will effectively close the Ratcliffe bid.

But sources close to the bidding process told AFP that there had been no official updates from Sheikh Jassim and no timetable for the next steps. The offer from the Qatari investment group was to buy 100% of the Manchester club. It has been reported that Ratcliffe wants to buy a controlling stake to allow the Glazer family to remain involved, a move that would be unpopular with fans.

British billionaire Ratcliffe is reportedly losing ground in the race to acquire Manchester United.

A new company, Nine Two UK Holdings Limited, established in the UK on June 15th, is understood to be part of Sheikh Jassim's preparations should his bid to buy Manchester United be successful. Documents published on the Companies House website list Sheikh Jassim as an individual with significant control over the company.

Ratcliffe, founder of the chemical company INEOS, appears to be the leading contender to win the race to buy Manchester United after the third round of bidding closed at the end of April.

Manchester United ended a six-year trophy drought by winning the League Cup in March and finishing third in the Premier League in Erik ten Hag's first season as manager. The long-standing ownership saga has led to uncertainty about the club's future as they prepare for the summer transfer window.

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