Manchester United plan to announce that Sir Jim Ratcliffe has secured a 25% stake in the Old Trafford club early next week, according to Sky News.
The British billionaire has reached an agreement in principle with the Glazers after months of negotiations with several potential buyers.
Ratcliffe will be taking two boardroom seats at Man United through his company INEOS Sports, but he will not be joining the club’s public company board.
As reported earlier, the OGC Nice owner will be committing £245 million to the renovation of the infrastructure at Old Trafford and Carrington training base.
While Ratcliffe is spending £1.25 billion on the acquisition of the stakes, the cost of the stock purchase and the other capital for investment means he will be committing about £1.5bn initially in the early days of his partial ownership of Man United.
The $33-a-share deal will be structured as a tender offer to acquire 25% of the listed A-shares, and the Glazers will also sell 25% of their B-shares, which carry greater voting rights, as part of the deal.
Ratcliffe will be taking charge of the football operations of the club, and Jadon Sancho is one of the players reportedly waiting for his official arrival before deciding on his future.
The Man United attacker has been linked with an exit ahead of the January transfer window having fallen out of favour with manager Erik ten Hag.
However, he could remain at the club beyond the winter if the Dutchman is sacked, and things are not looking good for the Red Devils boss right now after they suffered their sixth Premier League defeat against Newcastle United last Saturday.
Major changes are expected after Ratcliffe takes over the footballing side of Man United, which could have an impact on their transfer plans in the winter transfer window.
