Sir Jim Ratcliffe appears to have taken a decisive lead in the race to acquire Manchester United from the Glazer family.
The Sun reports that, according to Old Trafford sources, the offer made by the English tycoon currently has the Glazer’s approval.
Sir Ratcliffe, who is CEO of Petro-Chemical giant, INEOS, has been locked in a two-horse race with Qatari Crown Prince Sheikh Jassim bin Hamad bin Khalifa Al Thani, for control of the Premier League behemoth.
Despite some analysts suggesting that the Glazers might be enticed by the lump sum offered by the Qatari prince, indications are that Ratcliffe may currently hold pole position.
The Glazer family took over Man United in 2005 by using their shares in the club to secure financing, saddling it with enormous debt in the process.
With United’s indebtedness now having grown to an astonishing one billion pound sterling, according to TalkSport, the Glazers are now looking to sell some or all of their holding in the club.
At present, the key factor that is believed to have tipped the scale in favour of Sir Jim is the reported inclination of the Glazer family to retain some degree of investment in the club.
Sheikh Jassim, in comparison, has submitted a bid that would enable him to buy the Glazers out completely.
A formal announcement is expected in days, but for now, Ratcliffe may have good reasons to remain optimistic.
However, his appointment might be bad news for some in the corridors of power at the club, if The Sun is to be believed.
The outlet reports that with the exception of the Glazers, Sir Jim’s appointment would “mean an imminent exodus of the rest of the Old Trafford top brass including chief executive Richard Arnold.”