British billionaire Sir Jim Ratcliffe is reportedly confident of winning the race to buy Manchester United despite competition from Sheikh Jassim bin Hamad Al Thani.

Both Ratcliffe and Sheikh Jassim have made offers to purchase the 20-time English champions, with the bids believed to be around £4.5bn, which is £1.5bn short of the Glazer family's asking price.

The potential new owners will allegedly both travel to Manchester this week alongside their teams for presentations, which will be taken by senior club staff.

Sheikh Jassim is believed to be in pole position to purchase the club, as he has promised to clear the debts - thought to be around £1bn - if he completes a takeover.

"The bid plans to return the Club to its former glories both on and off the pitch, and – above all – will seek to place the fans at the heart of Manchester United Football Club once more," read a recent statement from Sheikh Jassim's consortium.

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"The bid will be completely debt free via Sheikh Jassim's Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the Club supports.

"The vision of the bid is for Manchester United Football Club to be renowned for footballing excellence, and regarded as the greatest football club in the world. More details of the bid will be released, when appropriate, if and when the bid process develops."

However, according to The Times, Ratcliffe remains confident of completing a takeover, with the British businessman currently putting together a team of experts.

The report claims that Ratcliffe is currently in talks with Dave Brailsford, who has been key to British Cycling's success in recent years, over a move to Old Trafford.

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Brailsford is known for his 'marginal gains' philosophy, telling BBC Sport back in 2012: "The whole principle came from the idea that if you broke down everything you could think of that goes into riding a bike, and then improved it by 1%, you will get a significant increase when you put them all together."

Ratcliffe allegedly wants Brailsford to put together a 'best in class' in all areas, as the billionaire looks to help Man United dominate both on and off the pitch.

The Glazers are thought to be willing to walk away from a sale if their valuation is not met, with any takeover now incredibly unlikely to be completed before June.

However, any proposed new owner at Old Trafford would want to have a plan in place for this summer's transfer window, which strengthens the need for the deal to go through as soon as possible.

At this stage, there have not been any further bids for Man United, but it is understood that another two parties are keeping a close eye on the situation with a view to making potential offers.