British billionaire Sir Jim Ratcliffe confirms his bid to buy Manchester United: Ineos officially enters the race to oust the Glazers
- Sir Jim Ratcliffe has confirmed he is bidding to buy Manchester United
- The Premier League club was put up for sale by the Glazer family in November
- Glazers are reportedly wanting £5billion before selling United to an interested party
Sir Jim Ratcliffe has reportedly confirmed that his company 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 are said to want £5bn for the club and Ineos have now expressed interest in ousting them, according to The Times.
Sir Jim Ratcliffe has joined the race to buy Manchester United from the Glazers
Formal bids are due to begin in February and bids are expected from parties in the US, the Middle East and Asia.
However, Ratcliffe, listed by Forbes as Britain’s richest man, has made his intentions clear early on not to miss out on buying the Premier League club.
United aren’t the only English club Ratcliffe has tried to buy, as he also made a late bid for Chelsea last year when they were put up for sale by Roman Abramovich.
His bold bid fell through when an American consortium led by Todd Boehly took over instead, paying $2.5 billion.
The Glazers are hoping for an even bigger figure and could get their wish if United’s resurgence under Erik ten Hag continues.
The Red Devils have won all seven games since the World Cup, including Saturday’s Manchester derby, to finish in the top four.
If they can pull off a title challenge, it could push the Glazers’ asking price even higher.
The Glazers are reportedly ready to consider offers for a minority stake in the club, but a full sale is seen as a more likely outcome and this could be completed before the end of the season.
United’s owners have become increasingly unpopular with fans over the years and several protests have been held to express their displeasure 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 to do with Ligue 1 club Nice, which they currently own.
UEFA rules state that clubs belonging to the same owner cannot participate in the same European competition.
With this in mind, it is understood that Ineos is looking into alternative ownership models for Nice.
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