According to Sky Sport , British billionaire Sir Jim Ratcliffe held meetings with Man Utd's leadership last week to discuss taking over the team, but he said he would not pay a "stupid" price for the club.
The INEOS group chief executive and his team spent six hours at Old Trafford and Carrington last week in discussions with current Man Utd leaders.
Sir Jim Ratcliffe and Sheikh Jassim both want to buy Man Utd from the Glazers.
"How do you decide the price of a painting? How do you decide the price of a house? It has nothing to do with how much it costs to build or how much it costs to paint," Sir Jim Ratcliffe told the Wall Street Journal.
"What you don't want to do is pay a stupid price to get everything, because then you'll regret it."
However, Ratcliffe said his interest in Man Utd would "be winning everything" and called the club a "community asset".
Ratcliffe appeared outside Old Trafford after meeting club executives - unlike Sheikh Jassim, who did not personally travel to Manchester last week.
However, US sources said that talks last Thursday in Manchester between billionaire Sheikh Jassim's Qatari delegation and Man Utd executives were positive. Sheikh Jassim's advisers are now working on a new bid expected tomorrow (March 22).
Previously, Qatari investors were determined not to pay the price demanded by the Glazers. According to some sources, the difference in value between the two sides was quite large. However, after more than 10 hours of direct discussion at Old Trafford, it seems that Sheikh Jassim's delegation has given in and is ready to increase the bid.
Sheikh Jassim has been to Old Trafford as a fan before and the focus of the Qatari delegation's recent visit was to gain an insight into what they could do with investment in terms of infrastructure, youth development and the women's team at Man Utd.
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