Man Utd takeover: The Glazers are clear on ‘leading bidder’ after secret meeting on Thursday

INEOS founder Sir Jim Ratcliffe is still the leading bidder to buy Man Utd as the takeover process rumbles on, according to reports.

Both Sheikh Jassim, the chairman of Qatar Islamic Bank and the son of a former Qatari prime minister, and his rival Ratcliffe had submitted what had been expected to be their third and final bids for the club last month.

But amid , Sheikh Jassim has , which as before is for 100 per cent of the club, will clear all debt and includes a separate fund directed solely at the club and community.

Officials and staff inside Old Trafford are eager for clarity over the takeover situation, which began in November when Man Utd announced that the board was exploring “strategic alternatives” to enhance the club’s growth, with a full sale one option being considered.

And now Sky News claim that Ratcliffe ‘remains the leading candidate’ to become the new owner of Man Utd ‘despite an inconclusive board meeting held late last week’.

The report adds:

‘Sky News understands that directors of the Premier League club’s holding company met on Thursday to discuss the progress of its £5bn-plus auction.

‘Controlled by members of the Glazer family but also comprising a number of independent directors, the board was updated on the sale process by Raine, the merchant bank advising Manchester United.

‘A source close to the auction said the directors did not opt to enter into exclusive negotiations with either Ineos Sports or its principal rival, the Qatari businessman Sheikh Jassim bin Hamad al Thani.’

Sheikh Jassim was the first prospective owner to publicly confirm a bid during the first round back in February and was soon joined by Ratcliffe, the Manchester-born owner of INEOS.

The first quarter of the year was initially recognised as a key time in a process that has rumbled on and threatened to overshadow United’s push for a Champions League qualification place.

February’s soft deadline was followed by a second deadline in March for those that progressed, with Raine Group, brought in to oversee the sale, then asking interested parties for their third and final bid on April 28.

Man Utd fans have made clear their desire for a full buy-out from the Glazers, who have been unpopular since their leveraged takeover of the club in 2005.