The dragging takeover drama at Manchester United is finally coming to an end as the Premier League finally approve Sir Jim's partial ownership bid for the club.
Embattled Manchester United owners, the Glazers, put the club up for sale in November 2022 but could not close a deal.
Sir Jim Ratcliffe and Sheikh Jassim emerged as two top contenders to buy Manchester United but tabled contradictory offers.
While Sir Jim wanted a partial ownership deal with the Glazers, Sheikh Jassim's representatives wanted a full takeover.
After a dragging round of talks and negotiations, Sheikh Jassim withdrew from the race as the Glazers reached an agreement with his rival Sir Jim.
United club statement confirmed the club's stakeholders have approved Ratcliffe's 25% bid for Manchester United putting an end to the dragging takeover process.
Despite the approval, Sir Jim Ratcliffe needed to clear the last hurdle of obtaining approval from the Premier League to complete the purchase.
Now, according to a report by the Telegraph, the Premier League have approved the deal with an announcement to be made soon.
"Jim Ratcliffe has received Premier League directors and owners’ test approval for his 25 percent purchase of Manchester United.
“Completion will be announced within days," the report reads.
The approval by the Premier League will be a big boost to Sir Jim Ratcliffe who has begun head-on with his bid to transform Manchester United's sporting and footballing operations.
Ratcliffe was in the stands to watch Manchester United's 2-2 draw with Tottenham in a subtle but profound move to announce his readiness to take charge of the club's new chapter.
He was also instrumental in the appointment of former Manchester City's football chief Omar Berrada as Man United's new CEO.
Embattled Manchester United owners, the Glazers, put the club up for sale in November 2022 but could not close a deal.
Sir Jim Ratcliffe and Sheikh Jassim emerged as two top contenders to buy Manchester United but tabled contradictory offers.
While Sir Jim wanted a partial ownership deal with the Glazers, Sheikh Jassim's representatives wanted a full takeover.
After a dragging round of talks and negotiations, Sheikh Jassim withdrew from the race as the Glazers reached an agreement with his rival Sir Jim.
United club statement confirmed the club's stakeholders have approved Ratcliffe's 25% bid for Manchester United putting an end to the dragging takeover process.
Despite the approval, Sir Jim Ratcliffe needed to clear the last hurdle of obtaining approval from the Premier League to complete the purchase.
Now, according to a report by the Telegraph, the Premier League have approved the deal with an announcement to be made soon.
"Jim Ratcliffe has received Premier League directors and owners’ test approval for his 25 percent purchase of Manchester United.
“Completion will be announced within days," the report reads.
The approval by the Premier League will be a big boost to Sir Jim Ratcliffe who has begun head-on with his bid to transform Manchester United's sporting and footballing operations.
Ratcliffe was in the stands to watch Manchester United's 2-2 draw with Tottenham in a subtle but profound move to announce his readiness to take charge of the club's new chapter.
He was also instrumental in the appointment of former Manchester City's football chief Omar Berrada as Man United's new CEO.