Sir Jim Ratcliffe's deal to take a 25 per cent stake in Manchester United may not be completed in time for the opening of the January transfer window.
It had been hoped that the investment, of around £1.4billion, would be ratified at a board meeting which is due to be held on Thursday afternoon.
However, lawyers are continuing to work on the finer details of what is a complex agreement, and insiders have warned that a final agreement could take 'weeks'.
Should that be the case, New York Stock Exchange and Premier League requirements would make it unlikely that the British petrochemicals billionaire, who is expected to take control of football operations, would be in at Old Trafford for the turn of the year.