The preferred bidder for Manchester United could reportedly be named by the end of the week, with Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al Thani in the running to purchase the club.

Both Ratcliffe and Sheikh Jassim have submitted offers to buy the 20-time English champions, although the former is only looking for a controlling stake at this moment in time.

A controlling stake for Ratcliffe's Ineos Group would be around 51%, with the current owners the Glazers potentially keeping a minority shareholding of around 20%, which would prove unpopular with the Man United fans, who continue to protest against the Americans.

Ratcliffe has seemingly emerged as the favourite in recent weeks, with Raine Group, who are working on a sale, believed to be preparing to contact the businessman to name him as the preferred bidder.

According to The Independent, bidders for the Red Devils are expecting an announcement by the end of the season, but there could also be communication by the end of this week.

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There have been suggestions that Ratcliffe could complete a full takeover of the club within three years of taking control, but Sheikh Jassim wants to immediately complete a 100% purchase.

The Qatari banker has also promised to clear the debt at Old Trafford, in addition to committing a huge sum to improve the stadium and the club's training ground.

Sheikh Jassim is also believed to be prepared to make a significant amount of money available for transfers this summer, with Paris Saint-Germain's Neymar being heavily linked with a move to the club.

Tottenham Hotspur's Harry Kane is also said to be a leading target, while head coach Erik ten Hag is said to want a central midfielder and central defender to further boost his squad.

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There has been undoubted progress at Man United this season, with the 20-time English champions ending their six-year trophy drought by lifting the EFL Cup at the end of February.

The Red Devils will also take on Manchester City in the FA Cup final on June 3, while they are on the verge of securing a top-four spot in the Premier League table.

Ten Hag's side need just one point from their final two league games of the season against Chelsea and Fulham to be guaranteed a position in the 2023-24 Champions League.

Any potential owner is likely to want to be in place by the early stages of June, as there will need to be a plan for the summer transfer window.