Baku, February 10, AZERTAC

Britain's richest man Sir Jim Ratcliffe has reportedly hired Wall Street giants JPMorgan and Goldman Sachs to advise him on his bid to buy Manchester United, according to Daily Mail.

The Glazer family - who have had a deeply unpopular 17-and-a-half-year-spell in charge of United - announced they were open to a sale or investment on November 22 and Ratcliffe became the first potential bidder to put his hat into the ring in January.

Ineos owner Ratcliffe, who is a boyhood United fan, has now entrusted the highly-prestigious banks to help him study the feasibility of an offer for the club, according to Bloomberg.

The Glazer family will probably struggle to attract their desired £6billion bid for United, according to those within the process. They believe between £4.1bn and £4.5bn is more realistic.

Ratcliffe was also in the running to buy Chelsea last year before the Blues were eventually sold to a consortium led by Todd Boehly.

The chemicals magnate, who is worth around £13.3bn, first revealed his interest in buying United if they were to ever come on the market last summer.

Then, when the Glazers suddenly put the club up for sale following years of fan protest against the ownership, a spokesperson for Ratcliffe said: 'We have formally put ourselves into the process.'

But as Sportsmail revealed on Wednesday, United have already held discussion with a private wealth fund from Qatar who want to buy the Premier League giant and are preparing to make a bid in the next few days.

It was following the World Cup hosted by Qatar that the group of investors became interested in United. Last month, belief grew that they should have a stake in a club they see as the biggest in the world.

Talks between the prospective buyers and United's hierarchy followed. The Qataris are also confident there will be no issues presented by Qatar Sports Investments' (QSI) ownership of Paris Saint-Germain.

UEFA rules forbid two clubs with the same owners from participating in the same competition — and PSG could face United in Europe.

But the group are described as 'entirely separate' from QSI, and the money would be from an individual fund rather than a sovereign wealth fund.

Sportsmail also revealed that the investors are 'confident' of blowing competitors out of the water - which would include Ratcliffe - and they want to hand Erik ten Hag a huge transfer kitty.

Following the news of a Qatari takeover, United's share price on the New York Stock Exchange surged, with a 14 per cent hike taking the price from $21 to around $24.