Ratcliffe is reportedly only seeking a controlling interest in Man United at this time, which would be roughly 51%, with the Glazers maybe keeping a minority shareholding of 20%.
The Glazer family would no longer be associated with the Red Devils if Sheikh Jassim bin Hamad Al Thani’s bid, which is rumored to be for 100% of the club, were to be accepted.
Although it was reported last week that the preferred bidder for the club was almost ready to be identified, nothing significant has happened in the past five to seven days.
The Man United directors reportedly met on Thursday to examine the takeover scenario, but no final decision regarding a preferred bidder was reached, according to Sky Sports News.
According to the source, Ratcliffe is still the front-runner to purchase the club, but Sheikh Jassim is still a contender despite recent allegations to the contrary.
The Glazer family allegedly increased the asking price for Man United from the initial £5.2 billion to £6 billion, which caused Sheikh Jassim to reevaluate his offer.
West Ham United is apparently being considered as an alternative to Manchester United by the Qatari banker, who is reportedly desperate to buy a Premier League team.
The condition in Ratcliffe’s bid is rumored to allow him to purchase the Glazers’ remaining shares after three years.
The Ineos’ offer is estimated to be worth around £5.5 billion, which is less than the rumored £6 billion asking price put forth by the Glazer family.
Although the existing owners have expressed an interest in accepting minority investments, it seems likely that Ratcliffe and Sheikh Jassim will face off in order to finalize the takeover.
Man United won the EFL Cup earlier this year to snap their six-year trophy drought, and they will face Manchester City in the FA Cup final the following weekend.
In the Premier League standings, Erik ten Hag’s team has also locked up a top-four spot, and they will be vying for third against Fulham on the season’s last matchday.