British billionaire Jim Ratcliffe is set to enter a final round of talks with the Glazer family to acquire Manchester United in a deal that could be worth as much as £6 billion, according to Matt Lawton and Matt Dickinson of The Times.

The reported deal would allow brothers Joel and Avram Glazer to retain a 20% stake in the club, which the Americans initially put on the market in November.

Sheikh Jassim bin Hamad Al-Thani’s offer of just under £5 billion for full ownership of the team falls short of the total value of Ratcliffe’s bid.

While the reported deal would enable two of the six Glazer siblings to stay on board, Ratcliffe could purchase Joel and Avram’s remaining shares over a period of two-to-four years to gain 100% control of the Red Devils.

But Joel and Avram Glazer are the club’s co-chairmen and appear reluctant to give up their stake. The two are reportedly confident the value of United – a 13-time Premier League champion – will double over the next 10 years, and they currently collect hefty dividends off their investment in the team.

The Glazers have fielded three rounds of bids from several suitors, including investment firms interested in providing big-money loans to either prospective owners or the Glazers themselves.

Sheikh Jassim emerged as the early front-runner in February when he announced his plans to take 100% of United in a completely debt-free transaction.

Both Ratcliffe, the billionaire founder of petrochemicals manufacturer INEOS, and Sheikh Jassim claim to be lifelong United supporters.

The Glazers remain personae non gratae at Old Trafford, where fans have staged several protests in the years since the family completed its leveraged takeover in 2005.

The Glazers said in November they would consider “all strategic alternatives,” including selling both minority and majority stakes in United.