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BREAKING NEWS: Britain’s richest man Sir Jim Ratcliffe CONFIRMS he is making a bid to buy Manchester United with his firm Ineos, the first to formally commit to making a bid to oust Glazers, who want £5 BILLION
- Sir Jim Ratcliffe has confirmed that he is making an offer to buy Manchester United
- The Premier League club was put up for sale by the Glazer family in November
- The Glazers want £5bn before selling United to any interested party
Sir Jim Ratcliffe has reportedly confirmed that his firm Ineos has officially entered the race to buy Manchester United.
The Glazers announced their plans to sell United in November, 17 years after taking over Old Trafford.
They want £5bn for the club, and Ineos have now registered their interest in ousting them, according to The Times.
Sir Jim Ratcliffe has entered the race to buy Manchester United from the Glazers
Formal bidding is scheduled to begin in February with bids expected to pour in from parts in the US, the Middle East and Asia.
However, Ratcliffe, who is listed by Forbes as Britain’s richest man, has made his intentions clear from the outset as he looks to avoid missing out on buying the Premier League club.
United are not the only English club Ratcliffe has tried to buy, having also made a late offer for Chelsea last year when Roman Abramovich put them up for sale.
His bold bid fell through, as an American consortium led by Todd Boehly took over instead, paying £2.5bn and also pledging to commit £1.75bn in additional investment in the future.
The Glazers are hoping for even more, and they could get their wish if United’s resurgence continues under Erik ten Hag.
The Red Devils have won all seven of their games since the World Cup, including Saturday’s Manchester derby, to move into the top four.
If they can go on to mount a title challenge, this could drive the Glazers’ asking price even higher.
The Glazers are reportedly open to considering offers for a minority stake in the club, but a full sale is considered to be 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 to express their discontent with the direction the club has taken.
Ratcliffe could be the man to replace them at the helm, but Ineos will have to consider what they want to do with Ligue 1 side Nice, which they currently own.
UEFA regulations stipulate that clubs owned by the same owner cannot participate in the same European competition.
With this in mind, Ineos is understood to be looking at alternative ownership models for Nice.
More to follow…