After a long-running saga, Sir Jim Ratcliffe has reportedly received approval from the Premier League directors and owners’ test.
Ratcliffe had made a 25% purchase of Manchester United.
The British billionaire’s investment in the club, announced on Christmas Eve, marks a significant step towards the completion of the takeover.
Ratcliffe’s acquisition, valued at £1.03 billion, was set in motion with a strict Christmas Day deadline.
Following his attendance at United’s match against Tottenham alongside Sir Alex Ferguson last month, Ratcliffe officially submitted his offer for a share of the club, which is now on the verge of finalization, The Sun UK states.
Reports also reveal that the deal is almost complete, with only the Football Association’s approval pending.
Ratcliffe extended his purchase offer until the end of the week, awaiting the FA’s sign-off, which is required for United’s participation in the Women’s Super League and other regulatory requirements.
The completion of the deal is expected to be announced by the Premier League once Ratcliffe finishes the process and could likely happen next week.
Ratcliffe has already pledged £237 million for club infrastructure improvements, including exploring the possibility of building a new stadium near Old Trafford.