Sheikh Jassim bin Hamad Al Thani has reportedly not yet received a response to the bid that he submitted for Manchester United before the recent deadline.
The Qatari banker, alongside Sir Jim Ratcliffe, is currently the favourite to complete a takeover of the Red Devils, and he is looking to buy 100% of the club.
The size of Sheikh Jassim's latest offer has not been disclosed, although it is believed to be lower than the £6bn valuation set by the Glazer family, who could yet decide against a sale.
Ratcliffe is only looking for a controlling stake of Man United, with the Glazers potentially being kept on as minority shareholders in a deal that is likely to be incredibly unpopular with the club's fans, who continue to protest against the American owners.
According to Sky Sports News, Sheikh Jassim is waiting to be contacted by Raine Group, who have been appointed by the Glazer family to work on a sale.
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Sheikh Jassim has reportedly pledged an additional £800m to invest into Man United's infrastructure, which would include improving the training ground and Old Trafford.
Meanwhile, the Qatari is also said to be willing to make sizeable transfer funds available, with the Red Devils looking to return to the top of the English and European game.
There have been claims that Sheikh Jassim has already identified a number of transfer targets, including Paris Saint-Germain forward Kylian Mbappe.
Real Madrid's Eduardo Camavinga and Bayern Munich's Kingsley Coman have also been linked with moves to Old Trafford, although it is alleged that the banker is yet to discuss any potential signings.
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Man United head coach Erik ten Hag said last week that he is unsure how much money there will be to spend during this summer's transfer window.
There is no clear end point to the takeover situation at this moment in time, with any deal unlikely to be completed until the start of June at the earliest, leaving little time to plan for the summer window.
The 20-time English champions are expected to be active in the upcoming market, with a new centre-forward viewed as their main priority ahead of the 2023-24 campaign.
The Red Devils will be bidding to make it a domestic cup double for the season when they take on Manchester City in the final of the FA Cup at the start of June.
Meanwhile, Ten Hag's side are fourth in the Premier League table, four points clear of fifth-placed Liverpool with a game in hand on the Merseyside outfit.
