Jim Ratcliffe was at Old Trafford to attend a presentation held by senior Manchester United management staff as part of his potential takeover of the club.

Sheikh Jassim Bin Hamad Al Thani, a British billionaire and Qatari banker, has made offers to purchase Premier League clubs to the American merchant bank Raine, which was brought in to assist in evaluating any bids.

The Glazer family, the club’s owners, announced in November that they were conducting a strategic review, with the sale of Manchester United among the options under consideration.

INEOS co-owners Andy Currie and John Reece joined INEOS chairman Ratcliffe at Old Trafford. Ratcliffe, the 70-year-old chairman of chemicals giant INEOS, was joined at Old Trafford by INEOS co-owners Andy Currie and John Reece.

Former British Cycling chief executive David Brailsford, who is now the director of sport at INEOS, was also a member of the delegation.

Representatives of Sheikh Jassim were in Manchester on Thursday for a tour of Old Trafford and presentations at Manchester United’s Carrington training facility.

It is believed that Sheikh Jassim’s team visited for 10 hours, which was significantly longer than anticipated, and that they remain committed to purchasing the club following substantive negotiations.

Only Sheikh Jassim and Ratcliffe, the owner of Ligue 1 club Nice, have publicly declared their interest in purchasing Raine.

Elliott Investment Management is also rumored to have advanced to the second phase of the process, although it is believed that the firm is offering funding rather than a takeover.