Ratcliffe had previously tried to bring in Potter at Nice with the 48-year-old waiting for a huge job opportunity to come along having turned down the Sweden national team post and an approach from Stoke City.
In his debut season as manager, Ten Hag guided United to a third-place result and the Carabao Cup, but he has had difficulty this year.
Though his team is only six points behind the reigning champions Manchester City in the Premier League, they are now in sixth place and will be missing several important players when they visit Anfield this weekend.
In addition to Casemiro, Lisandro Martinez, and Mason Mount who are currently out, Harry Maguire and Luke Shaw are also question marks after hobbling off in the Bayern loss.
Due to suspension, Bruno Fernandes will also be unable to go to Merseyside.