Manchester United have secured approval from the Football Association for Sir Jim Ratcliffe's investment and are one step closer to finalisation.
The Premier League has approved the petrochemical billionaire's 25% stake in the club.
The £1.3bn investment will not be completed until Ratcliffe's purchase of Class A** is finalised. This is not expected to be a problem for the 71-year-old who is willing to buy 25% of the 33% per share and the owner who is willing to give him 36%.
The Class A** tender offer will close on Saturday UK time, so it is unlikely to take place before then. Manchester United extended the deadline for the deal to be completed earlier this week.
The INEOS co-owner owns the funds, filing with the US Exchange Commission to show that he has at least $4 billion in liquid assets and that his total worth is "well over" that figure.
Ratcliffe is buying shares in Manchester United with his own money through a company named after Eric Cantona's famous quote – Trawlers Inc – rather than using INEOS funds.
His stake in the club will increase to 29% when he invests $300 million in infrastructure, which can be used to rebuild Old Trafford or build a new one.
After the lifelong Manchester United fan passed the owner-and-director test and signed the owner's charter, the Premier League board reviewed and approved Ratcliffe.
**10,000 Fans Incentive Plan