Sources: Sir Jim Ratcliffe set to complete Man United takeover within weeks
Sir Jim Ratcliffe is on course to complete the first stage of his Man United takeover within weeks and before the start of the New Year, sources have told Football Insider.
The British billionaire is now the frontrunner to complete a deal with the Glazer family after Sheikh Jassim withdrew from the process earlier this month.
Ratcliffe’s latest proposal is to acquire an initial 25 percent stake in the club in a deal worth around £1.4billion.
As revealed by Football Insider, Ratcliffe’s latest offer would see him take majority control at Old Trafford in 2026.
The offer means that members of the Glazer family are set to retain voting power at the club.
United’s board are currently finalising the details of the agreement before Ratcliffe’s investment is officially announced.
It is understood that the 71-year-old will have no issues passing the Owners’ and Directors’ Test with the Premier League.
There are no concerns from the Premier League about Ratcliffe’s source of funding via INEOS.
Once the final details are agreed upon by both parties, the takeover process is set to accelerate quickly and Ratcliffe is expected United’s board by the end of the year.
It is unclear how much decision-making power Ratcliffe will have during the first few months at the club.
However, his INEOS party have made clear their intentions to eventually expand and renovate Old Trafford once they have assumed full control.
As reported by The Times, Ratcliffe wants to expand the capacity of Old Trafford to 90,000.