FA approves Ratcliffe's 25% purchase of Man United

The Football Association has approved Jim Ratcliffe's purchase of a 25% stake in Manchester United.

Confirmation that the Premier League had given its backing to the deal was contained within an update to the Securities and Exchange Commission on Monday evening.

A further SEC update has now revealed that approval from the FA has also been obtained as completion edges closer.

Within an amended tender offer statement published on Wednesday afternoon came confirmation that the national governing body's approval "has already been obtained".

The green light from the FA is one of the last remaining steps but the deal cannot be completed until the tender offer for Class A shares is finalised.

The period in which holders of Class A shares can tender them for sale has been extended from 14 February until 23:59 on 16 February.

It is understood that completion of the deal is unlikely to immediately follow the closure of the tender offer but looks likely to come next week.

The latest SEC filing shows that the number of Class A shares to have been tendered has rocketed from 36.7% on 9 February to approximately 58.8% on 13 February.

That is more than enough to complete the 25% acquisition that Ratcliffe's offer is capped at, meaning even though more shares are available, that is the most which will be purchased.

The Ineos chairman has agreed to pay $33 (€30.80) per share for a quarter of the Class A shares, as well as paying that price for Class B shares held by the Glazer family.

The deal was announced on Christmas Eve and the agreement to buy a 25% stake in the club also includes investing a further $300m (€308m) into their infrastructure.

The FA’s approval follows hot on the heels of the Premier League completing its owners’ and directors’