Manchester United are hopeful that a takeover will be completed ahead of the summer as it would help to prepare for the transfer window and have an impact on contract extensions, respected journalist Fabrizio Romano has told GiveMeSport.

The Glazer family took control of the Red Devils when a £790million deal was struck to acquire more than 70 per cent of the club's assets in 2005, but a change of ownership appears to be in the offing.

GiveMeSport Transfer Update

Man United takeover news - the Glazers

According to The Times, Sir Jim Ratcliffe has officially entered the race to take Manchester United off the Glazers' hands.

The report suggests there have been key meetings over proposals in London this week and a spokesman from Ineos, Ratcliffe's petrochemicals company, has confirmed an interest has been registered.

Manchester United have received serious interest from the Middle East, Asia and United States and the Glazer family are poised to invite formal bids by a mid-February deadline.

It comes after the Americans announced in November that they are considering selling the Red Devils as they ‘explore strategic alternatives’.

Ratcliffe also looked to purchase Manchester United last year, but was told the Glazers were not interested in walking away from the club at that stage.

What has Fabrizio Romano said about the situation?

Romano understands that the Manchester United hierarchy want a takeover to go through ahead of the summer.

The Italian journalist feels the Glazers' departure before the season reaches its climax would allow the Red Devils to put plans in place ahead of the transfer window.

Romano also believes a change of ownership may have an impact when it comes to opening negotiations over fresh deals with current stars.

He told GiveMeSport: "It's really important that all the people on the board and the staff hope that everything can be completed before the summer in order to prepare for the summer transfer window and to maybe help with the contract extensions."

Read more: January Transfer Window 2023: When Does It Begin, Rumours and Everything You Need To Know

How much is Man United worth?

According to Reuters, some analyst estimates have put Manchester United's worth at more than £3.6billion.

The report suggests that amount could price Ratcliffe out after he also failed in an attempt to buy Chelsea before a consortium led by Todd Boehly completed a takeover worth £4.25billion last year.

In light of the price the west Londoners sold for, and despite estimates, it is understood that the Glazer family were seeking considerably more than that amount a matter of months ago.

That is because, in October, it was revealed that Manchester United would only change hands if a bid worth in excess of £9billion is put on the table, with that figure making the Red Devils the most valuable sports team in the world.

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