Manchester United takeover news LIVE Man Utd bidders ‘told winner this week’ as takeover rules change

Follow throughout the day for the latest Man United takeover news as Sheikh Jassim and Sir Jim Ratcliffe continue to battle it out for ownership of the club.

Almost seven months after the Glazer family issued a statement confirming their readiness to sell Manchester United, the acquisition process is underway.

British billionaire Sir Jim Ratcliffe and Qatari banker Sheikh Jassim bin Hamad Al-Thani are two contenders for control of the club. Ratcliffe is looking to acquire a majority stake, while the latter seeks to secure full control.

As the takeover process continues to progress, the Premier League on Wednesday announced a sweeping rule change banning fully leveraged takeovers of clubs.

The Premier League announced the rule change on Wednesday after the annual general meeting and all member nations unanimously approved the change.

The Glazer family financed most of their £790m purchase of United in 2005 with loans, partly secured by the club’s assets. The owner-director test was introduced a year ago by the Premier League to ensure that buyers are “appropriate and orderly”.

Winner announced soon?

The winner of the United buyout race is expected to be announced this week, as reported by the Daily Mail.

Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al-Thani both want to buy the club, but the former wants a majority stake in United, Sheikh Jassim wants a full buyout is reportedly aimed at