British billionaire Jim Ratcliffe has reportedly emerged as the highest bidder for Manchester United.
The Ineos Group CEO has offered more than $6.2 billion to buy the Premier League club, according to the Daily Telegraph.
Ratcliffe is bidding against Qatari banker Sheikh Jassim bin Hamad Al Thani, whose final offer reportedly also eclipsed $6.2 billion and promised to erase Manchester United’s $620 million in debt, according to The Times of India.
Third and final bids for the storied soccer club were submitted Friday. United’s current American owners, the Glazer family, are looking to sell the club at a $7 billion valuation, per the Independent.
While Sheikh Jassim is reportedly attempting to buy 100% of Manchester United, Ratcliffe has proposed buying a non-full majority stake that would allow the Glazer family to retain minority interest.
Over the weekend, Manchester United supporters protested, calling for the complete removal of the Glazer family from ownership. The family has held majority control of United since 2005 and also owns the NFL’s Tampa Bay Buccaneers.
