British billionaire confirms interest in buying Manchester United
After the Glazer family announced plans to sell Manchester United, Sir Jim Ratcliffe threw his name in the ring as a potential buyer. Ratcliffe is among the richest men in the United Kingdom, amassing his wealth primarily through chemical company Ineos. Ratcliffe is familiar with owning a soccer club. CUrrently, his company owns Nice in […]
After the Glazer family announced plans to sell Manchester United, Sir Jim Ratcliffe threw his name in the ring as a potential buyer. Ratcliffe is among the richest men in the United Kingdom, amassing his wealth primarily through chemical company Ineos.
Ratcliffe is familiar with owning a soccer club. CUrrently, his company owns Nice in France’s Ligue Un. Also, he is the owner of Lausanne-Sport in Switzerland. However, Manchester United is certainly in a different league than those clubs.
Speaking to The Times, an Ineos spokesperson said the company was formally in the process to buy Manchester United. It confirmed its interest with the group overseeing the sale. As a result, Ratcliffe and Ineos will be able to see confidential documents for due diligence in line with a takeover. The Times added that a change in ownership in the club can happen before the end of the current campaign.
Manchester United is not the only club currently under speculation of sale. Reports indicate Liverpool is on sale for a potentially record fee surpassing $5 billion. Manchester United has a greater global reach than Liverpool, meaning the sale could be even higher than that, should Ratcliffe and Ineos succeed.
Ratcliffe among first official entrants to buy Manchester United
If Liverpool could be cheaper, albeit marginally, it may make more sense for Ratcliffe to go that route. However, the Manchester native is a lifelong fan of the Red Devils. In fact, he was in Barcelona for the Champions League Final in 1999. Manchester United’s dramatic comeback at the death won the side its second Champions League title.
That being said, Ratcliffe did submit a bid to buy Chelsea when Roman Abramovich put the club up for sale a year ago. However, he left it too late for Chelsea to take any interest out of it. In the end, American Todd Boehly purchased the club for $5.3 billion.
Ratcliffe is not alone in wanting ownership of Manchester United. Groups from Asia, the middle east and the United States are among those in the running. However, Ratcliffe and Ineos are the first group to make their intentions public.
PHOTO: IMAGO / PanoramiC
