Sir Jim Ratcliffe's Ineos group wants to assume control of the football operations side of Manchester United's business from the Glazer family if a 25% offer worth an estimated £1.3bn is approved.
The British billionaire is thought to be increasingly confident of securing what he hopes will be the first stage of an eventual buyout.
The BBC was told that his principal rival - Qatari banker Sheikh Jassim bin Hamad Al Thani - had withdrawn from the process to buy United.
He failed to meet the Glazers' valuation with his 100% offer and grew frustrated with their demands.