Sheikh Jassim bin Hamad Al Thani has submitted a new bid to buy Manchester United which is believed to be worth around 5 billion pounds ($6.12 billion), Sky News reported on Saturday.

Sheikh Jassim, a son of Qatar’s former prime minister, launched the bid in February. A spokesperson representing Sheikh Jassim said at the time that the bid was completely debt free, via Sheikh Jassim's Nine Two Foundation.

Finnish entrepreneur Thomas Zilliacus also placed a bid on Thursday and told Reuters that he was willing to pay a premium for the English soccer club.

United's current owners, the Glazer family, began looking at options for the record 20-time English champions in November, including new investment or a potential sale, 17 years after they bought the Old Trafford club.

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Manchester United did not immediately respond to a Reuters request for comment.

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