Qatar’s Sheikh Jassim bin Hamad Al Thani hopes to secure the takeover of Manchester United by promising to invest an extra £800 million ($1 billion) in the British soccer club on top of his offer of around £5bn, according to reports.
The additional £800 million will be spent on improving the English Premier League club’s Old Trafford stadium and the team’s training group, London-based business newspaper City A.M. reported on Monday.
The third and final round bid deadline for the 20-time English Premier League champions passed on April 28. The US advisory firm the Raine Group is helping lead the sale of the soccer club.
The news comes amid reports on Sunday saying that Thani’s rival bidder, British billionaire Jim Ratcliffe, is now favorite to win the deal, having reportedly made a bid that values the club higher than his rival.