UK's Wealthiest Individual Sir Jim Ratcliffe Expresses Interest in Manchester United Takeover
- World Soccer Today -
Sir Jim Ratcliffe, the UK's wealthiest individual, has announced that he is officially joining the competition to purchase Manchester United.
The club was put up for sale by the Glazers in November and they are still searching for a suitable buyer.
According to The Times, Ratcliffe is the first person to publicly express interest in purchasing the club, with bids also expected from the US, the Middle East, and Asia.
A spokesperson for Ratcliffe stated that they have formally entered the process and formal bids are set to begin in February with the goal of completing the ownership change before the end of the current season.
A potential takeover of Manchester United, which would be welcome news for fans, can only occur if the Glazers reach an agreement on a selling price.
The Glazers are believed to be seeking more than £5 billion.
Sir Jim Ratcliffe, who is worth £15 billion, first expressed his interest in purchasing the club last summer.
A spokesperson for Ratcliffe stated at that time that if the club was for sale, he would be a potential buyer.
Sir Jim Ratcliffe, a lifelong Manchester United supporter and petrochemicals tycoon, is reportedly interested in pursuing long-term ownership of the club.
He is the CEO of multi-billion-pound chemicals company Ineos, which already owns French club Nice, Swiss side Lausanne, and a third of Formula One team Mercedes.
Ratcliffe also attempted to purchase Chelsea in May, but his £4.25 billion offer was rejected.
He stated that his interest in buying Manchester United is not about the money that has been spent or not spent, rather he is focused on what can be done to improve the club and its importance to the city.
Manchester United was put up for sale by the Glazers in November and Ratcliffe is one of the potential buyers, he has previously said that if the club was for sale he would be a potential buyer.
It is worth noting that any potential takeover of Manchester United would require the agreement of the Glazers, who are said to be seeking more than £5 billion for the club.
Manchester United fans have been growing increasingly frustrated in recent years with the club's lack of progress on the pitch and failures in the transfer market.
Despite spending more than £1 billion on new players, the club has won only three trophies in the nine years since Sir Alex Ferguson's departure.
A takeover by Ratcliffe would be a welcome change for the club's supporters and could potentially boost the team's performance under coach Erik ten Hag.