Reports from Bloomberg are suggesting Jim Ratcliffe and a Qatari investment group are lining separate bids for Manchester United as the 17 February bidding deadline approaches.

Jim Ratcliffe, chairman of Ineos Group Holdings Plc, is considering preparing a bid for the club, as he seeks the backing of Goldman Sachs Group Inc. and JP Morgan.

The banks would cover Manchester United’s existing debt, which currently stands at around US$800 million, and could potentially rise.

Ratcliffe is studying the feasibility of the offer with the advice of Goldman Sachs and JPMorgan Chase & Co., however, the deliberations are still ongoing and there is no certainty that Ratcliffe will decide to proceed with the bid or that the banks will commit to financing it.

Goldman Sachs has a strong track record in the world of football finance, having recently worked on deals involving Liverpool FC and FC Barcelona.

However, JPMorgan’s involvement in the failed Super League proposal last year has led to criticism from fans, leagues, and politicians.

Manchester United has also emerged as the clear favourite for Qatari investor group who were at the 2022 FIFA World Cup

The group is separate from the state-owned Qatar Sports Investments (QSI) who currently own PSG.

Additionally, QSI has also looked into making a bid for Manchester United, Liverpool, and discussed a potential takeover of Tottenham Hotspur with chairman, Daniel Levy.