Sir Jim Ratcliffe’s purchase of a 25 per cent stake in Manchester United is due to be announced later on Christmas Eve, according to a report.

Confirmation of the investment by the 71-year-old’s Ineos Group would end a saga which has lasted more than a year.

Sky News has reported that a deal is set to be announced, 13 months after the club’s United States-based owners the Glazer family revealed their intention to undertake a strategic review of their options, including the possibility of selling up.

Ratcliffe and Qatari businessman Sheikh Jassim were both in the running to oversee a buyout of the club until October.

Sheikh Jassim withdrew his bid for full control of the club on October 14, with Ratcliffe’s focus shifting to taking a significant minority stake.

Ratcliffe’s Ineos Group is expected to pay in the region of £1.25billion for the share purchase, while also acquiring significant control over footballing operations.

It has also been reported that Ratcliffe is prepared to invest a further £245million to improve the club’s ageing infrastructure.