Manchester United bidding war heats up.

The battle to acquire the ownership of the renowned Premier League club, Manchester United, is entering a critical phase with a deadline for improved bids set for Wednesday. 

Two contenders, Qatari banker Sheikh Jassim Bin Hamad Al Thani and British billionaire Jim Ratcliffe, have already submitted rival bids. 

However, several other groups are believed to have joined the bidding war, remaining discreet throughout the process. 

Reports suggest that Elliott Investment Management may offer funding to United's current owners, the Glazer family, rather than a takeover. 

At least six bids, ranging from full control to smaller stakes in the club, are expected to be declared by 2100 GMT on Wednesday to Raine, the merchant bank overseeing the process. 

The Glazers have allegedly set a value of £6 billion ($7.3 billion) for the club they bought in 2005 for £750 million. 

Last month's initial bids were around £4.5 billion. Sheikh Jassim is expected to submit another offer, while Ratcliffe has been more cautious, indicating that he will not pay an unreasonable amount for the club.