Christmas Eve brought an early present for Manchester United fans this year as Sir Jim Ratcliffe’s deal to buy 25% of the club was confirmed.

The billionaire will take over football operations in what many fans hope will be a first step in the Glazer family leaving the club which they have steered from the top of world football to a bad punchline. While Sir Jim’s bid was always linked to his INEOS firm, the details behind the deal show that the £1.03bn deal will be completed through a company called Trawlers Limited.

The company, which takes its name from Eric Cantona’s famous quote: ‘When seagulls follow the trawler it is because they think sardines will be thrown into the sea’, is separate from chemicals group INEOS.

Trawlers Limited is owned by Sir Jim and registered here in the Isle of Man. A quick scan of the island’s rather opaque business registry shows only one company with that name, registered on October 16 this year at Fort Anne, Douglas.

That came only one day after it was announced that Qatari banker Sheikh Jassim bin Hamad Al Thani had ended his attempt to buy the club outright from the Glazers.

A statement issued by the club on Christmas Eve said: ‘The closing of the tender offer will be subject to the receipt of Premier League approval and other necessary regulatory approvals, shareholder approval of an amendment to the Articles of Association and other customary conditions.

‘Trawlers Limited is a company incorporated under the laws of Isle of Man and is wholly-owned by Sir Jim Ratcliffe.

‘Trawlers Limited was advised by Slaughter and May, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Goldman Sachs International and J.P. Morgan Cazenove. Manchester United was advised by The Raine Group and Latham & Watkins LLP. The Glazer shareholders were advised by Rothschild and Co.’