Manchester United chiefs were impressed by the sporting expertise outlined by the INEOS group during meetings that lasted six hours on Friday.
Sir Jim Ratcliffe’s group included Sir Dave Brailsford, the former cycling chief who now serves as the petrochemical giant’s director of sport, and should they end up as the Old Trafford club's next custodians he will be tasked with overhauling the club's sporting structure.
Ratcliffe met head coach Erik ten Hag and was pictured shaking hands with chief executive Richard Arnold.
And sources with direct knowledge of the meetings believe that their familiarity with running elite teams will be seen as a significant advantage over the bid fronted by Qatar ’s Sheikh Jassim.
Their delegation met United officials on Thursday, with their camp saying discussions were positive, but they do not have first-hand knowledge of working within an elite sporting environment. There was no opportunity to meet Ten Hag because he was in Seville preparing the team for their Europa League tie against Real Betis.
INEOS have owned Nice since 2019 - throwing up a potential issue under current UEFA rules should a Ratcliffe-owned United face the Ligue 1 side in Europe - and have also been part of successful endeavours in Formula 1, cycling, sailing and athletics.
A deadline of 9pm on Wednesday has been set for a second round of bids to be lodged with Raine Group, the US merchant bank overseeing the club’s potential sale.
Both INEOS and Sheikh Jassim will submit increased offers - but Ratcliffe has sounded a cautionary note around paying over the odds amid suggestions that the Glazers are looking for an eye-watering £6bn to sell up.
The Qatari group have deeper pockets but they have previously stressed that they are reluctant to pay over the odds. Last year Chelsea were sold to an American consortium backed by Clearlake Capital for a record £2.5bn. Raine also oversaw that sale.
And while United’s history and status boosts the asking price, the need for infrastructure improvements to Old Trafford and their Carrington training base means a new owner will likely face additional outlays.
In an interview with the Wall Street Journal, Ratcliffe said: “How do you decide the price of a painting? How do you decide the price of a house? It’s not related to how much it cost to build or how much it cost to paint. What you don’t want to do is pay stupid prices for things because then you regret it subsequently.”
But the 70-year-old went on to say that United is a “community asset” and his interest in becoming owner is focused “purely in winning things.”
Reports suggest that between three and seven other groups could make offers by Wednesday night’s deadline. Elliott Sports Management, the former owners of AC Milan, are known to have an interest that would not see them take majority control but likely end up with the Glazers remaining in place.
There remains a chance that the incumbent owners, who have been deeply unpopular with supporters since taking over in 2005 by using a leveraged buyout, could decide to remain in charge should an offer near their asking price fail to materialise.
