Sir Jim Ratcliffe makes fresh Manchester United takeover admission

INEOS founder Sir Jim Ratcliffe has admitted failure in the Manchester United takeover process is not an option for him as he awaits news on the sale.

Ratcliffe is one of the two frontrunners to buy the Reds after the Glazers announced in November a 'strategic review'. At the time, this review was defined as leaving all potential scenarios on the table in regards the future of the club's ownership, including the prospect of a full sale.

Since the news, Ratcliffe is thought to have approached the American family with an offer for approximately 60 per cent of United. However, he faces stiff competition from Sheikh Jassim bin Hamad Al-Thani who is proposing a 100 per cent buyout.

Both bids from Ratcliffe and Sheikh Jassim are thought to be in the £5bn region. Unfortunately for United supporters, updates on the takeover process have been non-existent.

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But, in a rare interview on INEOS.TV, the 70-year-old addressed the sale. He said: "The Manchester United bid would have been unthinkable two or three years ago if we hadn't had some of the experiences - some quite difficult experiences with Lausanne and Nice.

"You can't really contemplate acquiring a brand like Manchester United and failing because the failure is just far too public and excruciating in a deal like that."

Last month, MEN Sport reported there was concerns from Sheikh Jassim about the likelihood of the Glazers selling the club. We understand as of August 18, the Qatari banker had not received a response from the Glazers and they were just waiting for the sellers to make their mind up.

The transfer window will soon close and although United got their hands on three players well in advance of the