Sir Jim Ratcliffe has reportedly launch his bid to takeover Manchester United after Qatari officials also tabled their offer for the club.
The race to buy the Premier League giants gathered momentum as the “soft deadline” to entertain bids from potential bidders approached.
The Glazers had opted to hand off the club following recent showdowns with disgruntled Man United fan base, who took to protests to berate the handling of the club by the American investors.
The 13-time Premier League champions will likely be overtaken by a new owner in the coming days, ending the Glazers’ 18 years reign at Old Trafford.
The Glazers appointed Raine Group, an American investment bank, to oversee Manchester United’s sale process. Potential bidders were asked to table their offers for the club with February 17 “soft deadline” fixed.
Sir Jim Raatcliffe was leading the race of Manchester United’s potential new owners before news of Qatari interests surfaced.
According to The Athletic, Ratcliffe has made an official bid for a complete takeover of Manchester United.
Sources close to the English billionaire revealed to the Athletic that Ratcliffe wants to put “Manchester back into Manchester United” if he assume the reins as the new owner of the club.
The Oldham-born investor made a fortune off his renowned chemical company Ineos.
Jim Ratcliffe is said to be one of the richest investors in Britain with an estimated net worth of £10.9bn.
He has been a die-hard supporter of Manchester United from boyhood club and had reportedly relish the prospect buying the club from the Glazers before the Glazers even put up the club for sale.
Jim Ratcliffe was also reportedly interested in taking over Chelsea from Roman Abramovich when the club was up for sale but was peeped by Todd Boehly, who was Abramovich’s preferred successor.
Now, Ratcliffe will have to face a stiff competition from Qatari Sheikh Jassim Bin Hamad Al Thani, who had reportedly launched a £5bn bid for Manchester United.
The Sun reports Sheikh Jassim is far richer than Jim Ratcliffe with an estimated worth of £278 billion. Sheikh heads Qatar’s largest bank and is a member of Qatar’s ruling Royal Family.
Apart from Sheikh and Ratcliffe, there are reports Raine Group will entertain more offers for Manchester United in the coming days and weeks. The February 17 “soft deadline” was reportedly fixed to mob up some few offers that are ready.
Bids seeking to invest in shares on the club are also said to be welcomed by Raine Group. More bids are expected to flung into the club in the coming days. But currently, it is Sir Jim Ratcliffe and Sheikh Jassim, who have backed up their interests with bids.
Manchester United are in top shape this season. Erik Ten Hag has confirmed the takeover process is not a distraction to the players as the club presses for a top-four Premier League finish.
