A spokesman for Ratcliffe, a boyhood United fan, confirmed on Tuesday January 17 that his company Ineos is interested in buying the club, saying: ‘We have formally put ourselves into the process.’

Ratcliffe is expected to face rival interest from the United States, Asia, and the Middle East after the Glazer family revealed their willingness to sell United following 17 years in power at Old Trafford.

The 70-year-old who tried to buy Chelsea before the Stamford Bridge club was taken over by a consortium led by Todd Boehly in May, met United co-chairmen Joel and Avram Glazer for formal talks last year.

The American owners want in excess of £ 5 billion for the club but may also consider selling off a minority stake to an investor.

Bidders have to declare their interest in buying United with Raine, the investment bank acting as the club’s financial advisers, and formal offers are expected to be made next month.

It’s understood that the process could be concluded before the end of the season.