(Bloomberg) -- Jim Ratcliffe remains the “leading” bidder for Manchester United Plc even after Qatari businessman Sheikh Jassim improved his rival bid for the English soccer club, Sky News reported, citing a person familiar with the matter.

Directors of the club’s holding company discussed the sales process on Thursday without opting to start exclusive negotiations with either bidder, the person told Sky News.

Ratcliffe’s offer for a majority stake values Manchester United at between £5 billion ($6.2 billion) and £5.5 billion and includes the option to buy the remaining shares after three years. Sheikh Jassim’s investment vehicle, Nine Two Foundation, upgraded its bid earlier this month, offering to buy the entire club for as much as £5.5 billion, according to The Guardian.

The Glazer family that owns Manchester United has also received four offers for minority stakes, Sky News reported. The bidders include Carlyle Group Inc., Elliott Investment Management, and Sixth Street Partners.

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