Sir Jim Ratcliffe is set to step into the boardroom at Old Trafford after agreeing to purchase a 25 per cent stake in the club.
Just over a year after the Glazer family announced a strategic review into their ownership, Sir Jim opted to revise his initial plan for a complete takeover and the INEOS founder has now rubber-stamped a £1.25billion deal to take up 25 per cent of the shares at Manchester United. It marks the end of a 13-month saga.
Sir Jim and Sheikh Jassim were, for a long while, the two frontrunners in the process and it had developed to the point whether either party could have become the club's outright owner. However, the Qatari banker decided to withdraw his interest after becoming disillusioned with talks and the lofty £6billion valuation the Glazers put on the club.
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Despite being the sole frontrunner, there was still red tape for the Failsworth-born businessman to get through as his INEOS team, the Raine Group and Glazer family worked behind the scenes to get the £1.25billion agreement across the line. That has now been agreed though and Sir Jim is ready to get to work at Old Trafford once the deal has been ratified.
Manchester Evening News understands Ratcliffe has been holding virtual meetings with United co-chairman Joel Glazer about possible changes to the club's structure, including would-be changes in personnel.
Sir Dave Brailsford, who served as performance director for British Cycling, is expected to be handed a significant role given his position as director of sport for INEOS. Toto Wolff - who heads up the Mercedes Formula One team -
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