Sheikh Jassim bin Hamad Al Thani, chairman of one of Qatar’s largest banks, has confirmed his foundation will make a bid for Manchester United.
The move comes ahead of a “soft deadline” for submitting proposals at 22:00 GMT on Friday.
It is the second open bid after businessman Sir Jim Ratcliffe expressed an interest last month.
The Qatar consortium said: “The bid is planned to restore the club to its former glory.
The Glazers, who bought Manchester United in 2005, are considering selling the Old Trafford club as they “explore strategic options”.
The Qatari consortium added: “The bid will be entirely debt-free through Sheikh Jassim’s Ninety Two Foundation, which will invest in the football team, training centre, stadium and wider infrastructure, fan experience and community supported by the club.
“The vision of the bid is for Manchester United to be known for football excellence and to be regarded as the greatest football club in the world.”
Known as a lifelong Manchester United fan, Sheikh Jassim is the chairman of Qatari bank QIB and the son of the former prime minister of Qatar.
The consortium’s statement did not provide any details on the proposed sum for bidding for the club.
The U.S. is also expected to receive at least two offers, while Saudi Arabia has also expressed interest.
That means up to five parties could try to negotiate a full sale, while others want smaller investments in exchange for a partial stake in the 20-time English league champions.