Rumours with confirmation that the Ineos chairman and CEO Sir Jim Ratcliffe, one of the richest men in Britain, has officially expressed an interest in buying Manchester United.
Although the Red Devils’ current owners (The Glazer family) have been in control of the club for 17 years since completing their full takeover in the summer of 2005.
It must be noted that the Americans’ ownership was immediately met with protests from supporters, who have continued to voice their opposition to the Glazers in recent years.
n November, it was announced that the Glazer family would consider a full sale of Man United if it was in the club’s best interest, saying in a statement: “Manchester United plc (NYSE:MANU), one of the most successful and historic sports clubs in the world, announces today that the Company’s Board of Directors (the “Board”) is commencing a process to explore strategic alternatives for the club.
“The process is designed to enhance the club’s future growth, with the ultimate goal of positioning the club to capitalize on opportunities both on the pitch and commercially.
“As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company.”
Ratcliffe, who is a Man United fan, is now confirmed to be launching a bid, with a spokesperson telling The Times: “We have formally put ourselves into the process.”
Onething is sure which is the 70-year-old was among the parties interested in buying Chelsea from Roman Abramovich last year, but he fell short with a £4.25bn bid to take over at Stamford Bridge, where he is a season ticket holder.
Ratcliffe also owns Ligue 1 side Nice and Swiss Super League outfit FC Lausanne-Sport, as well as acquiring a stake in Mercedes’ Formula One team in 2020.
However, the Ineos chairman will not be alone in his bid to buy Man United as the report adds that bids are expected to arrive from Asia, the United States and the Middle East.
Co-chairman Avram Glazer reportedly met with potential investors in Qatar during the World Cup, and a report from last week stated that the Red Devils were expecting takeover offers imminently.
