- British billionaire, Sir Jim Ratcliffe, has confirmed his intention to complete the purchase of Manchester United.
- The Glazers announced in November that they are willing to listen to offers for the club.
- The Glazer family have been in charge of the club for 17 years.
Sir Jim Ratcliffe, a British billionaire, has confirmed his intention to complete the purchase of Manchester United.
The Glazers announced in November that they are willing to listen to offers for the club.
The Glazer family, the Red Devils’ current owners, have been in charge of the club for 17 years, having completed their total takeover in the summer of 2005.
The Americans’ ownership was met with outrage from supporters, who have resented the Glazers in recent years.
INEOS, Ratcliffe’s chemical firm, announced it had formally lodged interest with the Glazers.
“We have formally put ourselves into the process,” a spokesperson said.
Ratcliffe has made it clear that he would be interested in purchasing United. He was a fan as a child and is said to be one still.
When Chelsea’s ownership became available following the start of Russia’s war in Ukraine, the 70-year-old billionaire was among the bidders.
Previous investments
Ratcliffe owns the cycling team INEOS Grenadiers and the Ligue 1 club Nice, among other investments. |PHOTO: Getty Images|
Ratcliffe is no stranger to large-scale sports investments. He also owns the cycling team INEOS Grenadiers, the Ligue 1 club Nice, which he took over in 2019, and the Swiss Super League club FC Lausanne-Sport.
“INEOS bought Nice in August 2019 for €100m. The intentions have been excellent, to be fair.”
“You can see he wants to do well. The investment has been good. On the Ligue 1 and Nice scale, they have spent €200m in those three-and-a-half years they have been at the club.”
“Before Man Utd fans say that is what we need to spend in one summer, not three years, Nice does not have the revenue Man Utd have.”
“Ligue 1 doesn’t bring in the same money as Premier League. You have to remember the scale.”
The competition
Old Trafford could potentially be sold soon.|PHOTO: Goal|
However, according to the report, the Ineos chairman will not be alone in his bid to buy Manchester United, as bids are expected from Asia, the United States, and the Middle East.
During the World Cup, co-chairman Avram Glazer reportedly met with potential investors in Qatar. A report from last week stated that the Red Devils were expecting takeover offers soon.
Apple and Amazon have also been linked with multibillion-pound bids for the 20-time English champions, with the Glazers reportedly seeking between £6 billion and £7 billion to sanction a sale.
Man United fans’ distaste for the Glazers reached its boiling point in 2021 after the club’s botched attempt to join the European Super League, prompting fans to storm the Old Trafford pitch and force the postponement of a Premier League game against Liverpool.
This season, the Red Devils are third in the Premier League table and could move up to second with a win over Crystal Palace on Wednesday, closing the gap to leaders Arsenal to six points.
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