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One of Britain’s richest people, Sir Jim Ratcliffe, has confirmed that his company is in the running to buy Manchester United from the Glazer family.
Sir Jim Ratcliffe has revealed he is officially in the running to purchase English club, Manchester United. There has been speculation surrounding whether or not he would throw his hat in the ring but he has now done so, publicly.
Ratcliffe makes intentions clear
Despite the Glazers' first indication that they were willing to sell in November, the billionaire, who was born in Failsworth in Greater Manchester, had been coy about his ambitions to buy his boyhood club.
However, Ratcliffe's company Ineos has indicated it is interested in buying the Glazer family's assets, making it the first public bidder to do so.
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“We have formally put ourselves into the process,” a spokesperson for Ineos, a petrochemicals and fracking company, told the Times.
Bidding for United is expected to begin next month, with interest also expected from the US, the Middle East, and Asia. Prior to a possible takeover, parties must sign up for confidential financial documents and commit to due diligence.
Ratcliffe, who has a sporting portfolio that includes the Ineos Grenadiers cycling team, a third of the Mercedes F1 team, and Nice football club, said in October that he was looking to have a bigger “asset” in football but at that stage he did not expect the Glazers to sell
“I’m a lifelong Manchester United fan,” he said at the time. “And I was there in that most remarkable match in 1999 in Barcelona, which is deeply etched in my mind. But we can’t sit around hoping that one day Manchester United will become available.”
Can Ratcliffe afford Manchester United
Glazers are seeking about £5bn for Manchester United and white that will certainly mark the most expensive club sale ever, Ratcliffe has the money. Forbes has estimated his wealth at $15.5bn, making him the world's 111th richest person.
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The news was greeted with cautious optimism by the Manchester United Supporters Trust, which reiterated its call for fans to be integral under any new ownership model.
United supporters, who are currently enjoying some of the best times since Sir Alex Ferguson retired almost a decade ago, are desperate to see the back of the Glazers as soon as possible and look ahead to the future without them at the helm.
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