New update emerges on when Sir Jim Ratcliffe’s takeover of United is set to be completed

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Sir Jim Ratcliffe’s and Ineos’ takeover of Manchester United looks set to be completed next week, according to reports.

It’s now been a month since there was news about Sir Jim Ratcliffe looking set to acquire 25 per cent of Manchester United from the Glazer family but since then, nothing has emerged about when the fanbase could expect it to happen.

Richard Arnold will step down at the end of the year in what looks to be the first decision made by the 71-year-old billionaire and his incoming sporting team.

However, there were reports of delays in the process but it finally looks like an end to the rumours is in sight.

Takeover in sight

According to a report from Mark Kleinmann of Sky News, Ratcliffe’s takeover of the club is finally set to be ratified by the beginning of next week.

The two sides have reportedly pencilled in that time to finally complete the takeover which will lead to Ineos getting two seats at Old Trafford for major decisions.

However, the report goes on to stress that it could be pushed back further but Ineos and, crucially, United believe next week will be when it gets done.

The wait has been a long one for United fans with it now being over a year since the Glazers announced a strategic review with a partial or full sale in the offing.

Sheikh Jassim made numerous bids for the whole of United in an extraordinary 12 months but it looks to be Ratcliffe who has snuck in with an offer that pleases everyone, including the American family.

Once the takeover is officially complete, the Ineos team will have to wait a few weeks before they can take the reins at Old Trafford as they will have to pass the Premier League’s Owners & Directors test.

Ratcliffe’s done deal

As the deal is now finally in the offing, you would expect to hear more about the Englishman’s plans for the club as well as who will be appointed to crucial positions of power at Old Trafford.

Crucially, this deal will be funded through his own personal wealth, according to the report, so the 71-year-old will not add to United’s existing borrowings.

There will be pertinent questions that will be put forward to Ratcliffe but for now, this is a hugely positive step forward for the Red Devils and the long-suffering fanbase.