Qatari investors are preparing to make a bid to buy Premier League club Manchester United in the coming days, Bloomberg reported on Monday, citing sources familiar with the deal.

The report added that the consortium will submit an initial bid for the club by the end of the week, and that officials from Qatar Sports Investments (QSI) are helping with preparations for the bid.

Jim Ratcliffe’s company INEOS formally entered the bidding process to buy United last month after the club’s US owners, the Glazer family, said in November they had begun looking at options including new investment or a potential sale. Earlier this month,

The Daily Mail reported that Qatari investors are planning to make a huge bid to buy Manchester United.

The Daily Mail report stated the interested investors are separate from QSI, which owns French side PSG.