Manchester United’s owners the Glazers have given Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al Thani the green light to begin formal negotiations over a potential takeover, according to reports. The development is considered a notable step towards a possible deal and provides concrete clarification that the Americans are in fact prepared to hand over the keys to Old Trafford after nearly 18 years at the helm.

So far, INEOS – owned by Ratcliffe – and the Qataris are the only two parties to public declare their interest in acquiring United, although there is believed to be additional interest from further afield.

With the Glazers said to be targeting a reported £5billion sale, there is still thought to be some distance from an agreement with the takeover talks still at a relatively early stage.

Nonetheless, The Telegraph are now reporting that United’s American owners have now communicated that both Ratcliffe and Sheikh Jassim can begin formal negotiations as the two senior figures seek to oust their rival bidder.

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