British billionaire Sir Jim Ratcliffe confirms he’s bidding to buy Manchester United: Ineos formally enters the running to oust the Glazers
- Sir Jim Ratcliffe has confirmed that he is bidding to buy Manchester United
- The Premier League club was put up for sale by the Glazer family in November
- Glazers reportedly want £5billion before selling United to any interested party
Sir Jim Ratcliffe has reportedly confirmed that his firm Ineos have officially entered the race to buy Manchester United.
The Glazers announced their plans to sell United in November, 17 years after taking over at Old Trafford.
They are said to want £5billion for the club, and Ineos have now registered their interest in ousting them, according to The Times. A spokesperson for Ineos said: ‘We have formally put ourselves into the process.’
Sir Jim Ratcliffe has reportedly entered the race to buy Manchester United from the Glazers
Formal bids are set to begin in February, and offers are expected to come in from parties in the US, Middle East and Asia.
Saudi Arabia has already confirmed its investors’ desires to purchase the club, along with Liverpool.
In November, the country’s sports minister Prince Abdulaziz bin Turki Al-Faisal told Sky News: I hope so, if there are investors and the numbers add up, and it makes a good business. Then the private sector could come in, or companies could come in, from the kingdom.’
Meanwhile Ratcliffe, who is listed by Forbes as Britain’s richest man, has made his intentions clear early, though, as he looks to avoid missing out on buying the Premier League club.
The Glazer family admitted that they were open to ‘exploring strategic alternatives’ last year
United are not the only English club that Ratcliffe has tried to buy, as he also made a late bid for Chelsea last year when they were put for sale by Roman Abramovich.
His audacious offer failed, as an American consortium led by Todd Boehly took over instead, paying £2.5bn, while also pledging to commit £1.75bn in further investment down the line.
The Glazers are hoping for an even bigger figure, and could get their wish if United’s resurgence continues under Erik ten Hag.
The Red Devils have won all seven of their matches since the World Cup, including Saturday’s Manchester derby, to move into the top four.
Erik ten Hag launched Man United into title contention after their Manchester derby triumph
If they can go on to mount a title challenge, this could push the Glazers’ asking price up even further.
The Glazers are reported to be open to consider offers for a minority stake in the club, but a full sale is regarded as a more likely outcome, and this could be concluded before the season concludes.
United’s owners have become increasingly unpopular with fans over the years, with multiple protests held to voice displeasure at the direction that the club has been heading.
If United can go on to mount a title challenge, it could push the Glazers’ asking price up further
Ratcliffe could be the man to replace them at the helm, but Ineos will have to consider what thy want to do with Ligue 1 club Nice, who they currently own.
UEFA rules stipulate that clubs under the same owner cannot enter the same European competition.
With this in mind, it is understood that Ineos are looking into alternative ownership models for Nice.