Ratcliffe and his INEOS group are set to buy a 25 percent stake in United and take charge of the sporting side of the business.
However, Glazer will remain involved as he will be named on a three-man committee alongside Ratcliffe and INEOS’s director of sport Sir Dave Brailsford, The Times reports.
Ratcliffe will pay £1.3 billion to take a minority stake in United and while that deal was supposed to be pushed through on Thursday, it could take several weeks before the deal is sent to the Premier League for approval.
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It could then take a further eight weeks for the deal to be completed and announced.
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