Ratcliffe's prolonged acquisition of a 25% stake in the club is now on the verge of confirmation, with an official announcement anticipated within the coming week.
The British billionaire has promised to promptly bring an end to the tumultuous transfer policy at Old Trafford, which has seen the club spend over £1bn in the last three years alone.
According to the Daily Star, Ratcliffe is now considering a move to bring in Freedman, who has overseen Crystal Palace's player acquisitions since 2017.
The report adds that Ratcliffe has been impressed with Freedman's contributions at Palace, a sentiment echoed by Sir David Brailsford, who is aiding the proposed restructuring of Man United's scouting and transfer departments.
It is understood that Ratcliffe has compiled a list of potential candidates, among them former Monaco sporting director Paul Mitchell, with ex-Liverpool sporting directors Michael Edwards and Julian Ward also being considered for the position.
Freedman has a rich history with The Eagles, and his potential move to Old Trafford could mean that Man United's current technical director John Murtough and football director Darren Fletcher might be reassigned to different roles, or let go.
During his time at Selhurst Park, Freedman has been lauded for orchestrating astute signings such as Marc Guehi, Eberechi Eze and Michael Olise, all of whom have developed into prominent young talents in the league.