After a Qatari group led by Sheikh Jassim withdrew, Sir Jim Ratcliffe is expected to acquire a 25% share in Manchester United.’The Times reports that United’s board of directors will approve Ratcliffe and his INEOS firm’s offer of £1.3bn for a 25% share in the club during a meeting this week. After his primary contender, Sheikh Jassim, had his last bid rejected by the Glazer family, the British millionaire was ready to close a deal. Some have called the move the “first stage of a full takeover” of the club.

The new developments suggest the protracted takeover issue may finally be coming to a close nearly a year after the club was first put up for sale. With his new and improved offer, Ratcliffe has once again emerged as the frontrunner, allowing the Glazers to maintain control for the time being. If a full takeover were to occur, the current bid would set a new record for a sporting club with a valuation of between £5bn and £5.5bn.

The club is expected to approve Ratcliffe’s bid next week, putting an end to the protracted takeover saga. On October 21, the Red Devils will play Sheffield United in their next Premier League game.