The INEOS founder is close to completing a deal which would see him own 25% of the shares in the Red Devils and take charge of the footballing operations at the club.
Erik ten Hag's men have struggled at the beginning of this term, though, with their Champions League progression in serious doubt heading into a daunting clash with Bayern Munich later this month.
According to the Daily Mail, Ratcliffe is targeting a change in transfer policy should he assume control of the footballing side of Manchester United.
The report claims that the 71-year-old would like the Red Devils to focus their recruitment on homegrown talents - a strategy the club have drifted away from in recent years.
It is understood that Ratcliffe would be willing to sanction a move for Brentford striker Toney, who is currently serving an eight-month ban for breaking Football Association betting rules.
The former Peterborough United man managed to net 20 goals in the Premier League last season for Thomas Frank's Bees, helping them to a top-half finish in the top flight.
Toney has been heavily linked to London rivals Arsenal and Chelsea throughout his time on the sidelines ahead of the January window, however Brentford's director of football has claimed that no offers have been made for the forward just yet.
On top of the 27-year-old, Ratcliffe is also thought to be keen on bringing Crystal Palace centre-back Guehi to Old Trafford, with the defender becoming an important part of Gareth Southgate's England team in recent months.
The nine-time international played the entirety of the Three Lions' November schedule in Euro 2024 qualifying, which included a routine win over Malta at Wembley and a share of the spoils away at North Macedonia.
Despite the reported interest from the Red Devils, it has been claimed that Guehi has no desire to make the big-money switch from Selhurst Park to Man United in the New Year.
Although there is set to be an increased focus on homegrown talents under the new minority ownership, deals for overseas players would be pursued if they could improve Ten Hag's squad.
After facing a hostile atmosphere in Istanbul against Galatasary in the week, Man United travel to St James' Park to clash with Eddie Howe's Newcastle United on Saturday night in the Premier League. body check tags ::