Sir Jim Ratcliffe is reportedly the Glazer family’s preferred bidder over Sheikh Jassim bin Hamad Al-Thani.
That’s according to The Sun, which is the first outlet to indicate the American owners’ choice in a report that came late on Wednesday evening.
Speculation suggested that there would be an update regarding the sale process this week, so more news may be revealed to supporters in the coming days.
Co-chairmen Joel and Avram Glazer were keen to retain some shares of England’s most successful club, hence the prolonged process that saw three rounds of bidding over the past months.
The two brothers will now keep their minority stakes whilst their four siblings will be bought out of any ownership they hold, making Jim Ratcliffe and INEOS the majority shareholders.
There will also be an “imminent exodus of the Old Trafford top brass including chief executive Richard Arnold”.
Qatar misses out
Qatar-based Sheikh Jassim did indeed submit the highest offer, which was in the region of £5 billion, however, INEOS’ proposal was deemed more lucrative as it was not for a complete takeover.
The Sun states: “A number of American financial institutions have also bid to buy minority stakes in the club that could allow the Glazers to retain control AND finance improvements to the Old Trafford stadium and Carrington training ground.”