Sir Jim Ratcliffe vows to make Manchester United ‘a beacon for a fan-centred approach to ownership’

Sir Jim Ratcliffe has laid out his investment plans for Manchester United in hopes of making the team the ‘number one club in the world again’ in hopes of turning the club into a ‘beacon’ for ‘fan-focused ownership’ ‘.

It was announced yesterday that the 70-year-old chemical magnate had made an official offer to buy the club.

He was one of two confirmed bidders, with Qatari investor Sheikh Jassim Bin Hamad Al Thani also confirming in a statement late Friday that he, too, had made a formal offer to buy the club from the Glazer family.

Ratcliffe, a childhood Manchester United fan, had previously said he wanted to put ‘Manchester back into Manchester United’ but has today revealed more detailed plans for the club, hoping to bring the ‘progressive, focused in the fans’ to the club. .

A statement issued on Saturday read: ‘Sir Jim Ratcliffe and INEOS have submitted an offer for the majority ownership of Manchester United Football Club. We would see our role as long-term custodians of Manchester United on behalf of the fans and the wider community.

“We are ambitious and very competitive and we would like to invest in Manchester United to make it the number one club in the world once again.

“We also recognize that the governance of football in this country is at a crossroads. We’d like to help lead this next chapter, deepening English football culture by making the club a beacon for a modern, progressive and fan-focused approach to ownership.

“We want a Manchester United anchored in its proud history and roots in the North West of England, putting Manchester back into Manchester United and clearly focusing on winning the Champions League.”

That will be a welcome claim for many United fans, many of whom have questioned and protested against its current owners, the Glazer family, alleging that they have “mismanaged” the club, notably by charging the Red Devils with their debt when they arrived. 17 years. -back.

Supporters took to the streets surrounding Old Trafford last season to protest their concerns, blaming the Glazer family for poor recruitment and underinvestment.

But Ratcliffe’s statement comes at a time when many questions are swirling around the governance of football, particularly on the eve of the publication of the government’s white paper on club ownership.

Britain’s richest man, Ratcliffe, 70, is reportedly worth around £13.3bn and was in the running to buy Chelsea last year, submitting a last-minute bid for the London club. of £4.25 billion. Interestingly, he also has season tickets at Stamford Bridge.

And while he reportedly hired Wall Street giants JP Morgan and Goldman Sachs to advise him on his bid, if successful, the club won’t be the only sports team he owns.

Ratcliffe currently owns the INEOS Grenadiers cycling team, the Ligue 1 team Nice and was also the owner of the Swiss club FC Lausanne-Sport.

Club officials remain hopeful that a sale can be finalized by the end of March, having regained all formal bids after the Friday 10:00 p.m. bid submission deadline.

More to follow…