The Qatar bid for Manchester United Ltd (NYSE:MANU), led by Sheikh Jassim Bin Hamad J.J. Al Thani, is growing in confidence that it has won the race to acquire the Premier League giant, according to Bloomberg.
The Qatar consortium has been competing with British billionaire Sir Jim Ratcliffe's INEOS for the sale of the club, which has dragged on for a number of months.
There have been various delays to the process, with Bloomberg stating bids had failed to meet the expectations of the Glazer family, which is selling the club.
Fans of the Manchester club have also become frustrated with the current owners, leading to protests outside the club's stadium shop this week.
Bloomberg added its sources told them delays have also stemmed from splits among the owners about whether to sell and fears of litigation from minority shareholders.
However, "those within the inner circle of the Qatari bid have now begun communicating their confidence of victory," Bloomberg said sources informed them, adding that they believe it is a matter of time before an official announcement is made.
The publication did warn, however, that people with knowledge of the matter said that with the official sale process running into its eighth month, the Glazers could make a last minute-change and decide to keep hold of the club, accepting funds from an outside investor to refurbish the run-down stadium and training facilities.
MANU shares are up more than 4% Wednesday.