Sir Jim Ratcliffe's proposed purchase of a minority stake in Manchester United is reportedly still some way off from being finalised.
Ratcliffe has seemingly spent the best part of 12 months battling with Sheikh Jassim bin Hamad Al Thani for the ownership of Man United.
The INEOS owner and Sheikh Jassim emerged as the two frontrunners after the Glazer family revealed last November that they were considering a sale.
After nearly a year of uncertainty surrounding the club's ownership, there has been significant developments in recent days.
Sheikh Jassim, who was only ever interested in a 100% takeover, has officially withdrawn from the race to buy the 20-time English champions.
The Qatari was reluctant to go any higher than his most recent offer, which was believed to be in excess of £5bn.
Meanwhile, the Glazers reportedly value the club in the region of £6bn — an asking price which Sheikh Jassim views as 'outlandish'.
In contrast to Sheikh Jassim, Ratcliffe has shown a willingness to accept a minority stake in the club, with the English businessman preparing to offer £1.5bn for 25% of Man United.
While the path is seemingly clear for Ratcliffe to finalise his investment, The Independent is reporting that there is some way to go in negotiations before a deal can be completed.
Ratcliffe views the investment opportunity as a step towards obtaining majority control of Man United in the future.
The report claims that nothing has been agreed, and there are still expected to be lengthy discussions between the two parties.
With the Glazers prepared to entertain minority investment, there is also concern that their stance could encourage rival bidders.
The next step in the process is likely to be a vote held by the Man United board on whether to accept Ratcliffe's proposal.
