The British billionaire is closing in on the deal. (Picture: Getty)
Manchester United are finally set to confirm a deal with Sir Jim Ratcliffe next week which will see him take a 25 per cent stake in the club, according to reports.
It follows a long, drawn-out bidding process with the Glazers who have considered several buyers, most notably Qatari businessman Sheikh Jassim bin Hamad al-Thani.
Ratcliffe had initially intended to buy the club outright but has settled for a minority stake in the club through his company Ineos.
The British billionaire submitted an offer in the region of £1.3billion and according to Sky News that deal will finally be formally announced early next week.
The 71-year-old is expected to be given two seats on board at Old Trafford although he will not join the club’s public company board.
Along with the deal, Ratcliffe is expected to take over control of the club’s football operations, which would leave the Glazers as majority owners and overseers of the commercial side of the club.
Sir Dave Brailsford is expected to work alongside Ratcliffe, and the two will reportedly not require the Glazer family to sign off significant football decisions.
Sir Jim Ratcliffe has promised investment in the club’s infrastructure (Picture: Getty)
The INEOS CEO is also set to promise £245million of additional investment to help improve the infrastructure at Manchester United.
Such improvements – likely to be focused on Old Trafford and the training facilities at Carrington – will not come at the cost of the club or add to their existing debts but will instead be financed solely from the 71-year-old’s personal fortunes.
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Ratcliffe has already begun his clearout of senior figures at the club with confirmation that CEO Richard Arnold will depart the club by the end of the year.
United’s de facto head of recruitment John Murtough is also expected to leave the club, although that move is yet to be officially confirmed.
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