1. Ineos offer:
- Total offer: £4 billion
- Percentage acquired: 51%
- Manchester United's valuation: (£4 billion / 51%) * 100% = £7.84 billion

2. Qatari foundation offer:
- Total offer: £5.5 billion
- Percentage acquired: 100%
- Manchester United's valuation: (£5.5 billion / 100%) * 100% = £5.5 billion

The Qatari foundation's offer includes the following components:
- £4.5 billion for development
- £500 million for debt repayment

The valuation of Manchester United remains at £5.5 billion.
Considering these additional details, the Ineos offer still values Manchester United higher at £7.84 billion. However, it's important to note that the Qatari foundation's offer includes significant investments in development and debt repayment, which can enhance the club's financial position and potentially provide long-term benefits beyond the immediate valuation.
Ultimately, the decision depends on the priorities of the stakeholders involved. If maximizing the immediate financial valuation is the primary concern, the Ineos offer may be more attractive. However, if the development plans and debt repayment are considered vital for the club's future growth and stability, the Qatari foundation's offer could be more favorable.