Report: Sheikh Jassim, Ratcliffe preparing world-record bids for Man United

Sheikh Jassim Bin Hamad Al Thani and Sir Jim Ratcliffe's INEOS group have not yet submitted world-record bids for Manchester United despite widespread reports to the contrary, sources told Sky Sports' Kaveh Solhekol.

Earlier Wednesday, Sky News' Rob Harris and BBC Sport's Dan Roan, among others, reported that Sheikh Jassim and Ratcliffe, the billionaire founder of petrochemicals manufacturer INEOS, had lodged second offers for United ahead of their anticipated deadline at 9 p.m. British time.

They have instead received an extension from Raine Group, the merchant bank handling the bidding process, and are now expected to submit bids worth more than £5 billion on Thursday, according The Independent's Miguel Delaney.

Their initial offers were believed to have been worth around £4.5 billion.

The Glazer family, which has owned United since 2005, is reportedly asking for around £6 billion for the club. The Glazers said in November they would consider "all strategic alternatives," including selling both minority and majority stakes in the club.

Sheikh Jassim's representatives said the Qatari banker intends on buying out 100% of United in a completely debt-free takeover. Ratcliffe's vowed to purchase the Glazer family's 69% controlling stake in the club.

The NFL's Denver Broncos are currently the most expensive sports franchise ever sold. The Walton-Penner family ownership group agreed to purchase the Broncos last year for a reported $4.65 billion (£3.75 billion).

The Todd Boehly-led consortium that purchased Chelsea last year reportedly made a £4.25-billion commitment to assume control of the Blues. Of that total, though, only £2.5 billion went toward acquiring the club itself - less than the amount paid for the Broncos - with £1.75 billion dedicated to investment, both on and off the pitch, over a 10-year period.