Sir Jim Ratcliffe edges ahead of Qatari rival to buy Manchester United, report says

Sir Jim Ratcliffe has emerged as the frontrunner in the race to acquire Manchester United ahead of Qatar's Sheikh Jassim bin Hamad Al Thani, according to a report.

Both Ratcliffe and Sheikh Jassim have submitted multiple bids for United since the club's owners, the Glazer family, announced they were seeking "strategic alternatives" last November.

However, the British billionaire’s recently revised offer has given him the edge over his rival, Bloomberg reported.

The chairman of chemicals company Ineos Group is in talks with the Glazers and their advisers over the structure of a deal, Bloomberg said, citing sources with knowledge of the matter.

The report said Ratcliffe could make an offer for some of the shares held by both the Glazers and minority investors in Manchester United. Ratcliffe may end up with an initial stake of roughly 25 per cent in a deal that could value the club at more than £5 billion ($6.1 billion).

In June the club predicted record annual revenue for the 2022/23 season, raising doubts about whether the Glazers would sell.

United said it was expecting revenue to reach between £630 million and £640 million for its fiscal year 2023. Previous guidance was between £590 million to £610 million.

The record revenue could make the Glazers less keen to pursue a total exit from the club, suggesting Ratcliffe could gain the edge in negotiations over his Qatari rival.

The consortium led by Sheikh Jassim submitted its fifth and final bid on June 7. Multiple reports put the offer at between £5 billion and £5.5 billion for 100 per cent of the club.

The Premier League club is widely seen as one of the most prized assets in all of sport. A $6 billion takeover would make it one of the biggest sports deals ever,