Football: Jim Ratcliffe's Ineos declares interest in buying Man United
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Manchester United haven’t won the Premier League since 2013 and their last major trophy came six years ago.
PHOTO: AFP
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LONDON – British billionaire Jim Ratcliffe’s Ineos company on Tuesday officially joined the race to buy Manchester United.
United’s owners, the Glazer family, said they were willing to listen to offers for the Premier League club in November and Ratcliffe is keen to strike a deal.
The boyhood United fan, who made an unsuccessful £4.25 billion (S$6.8 billion) bid to buy Chelsea
“We have formally put ourselves into the process,” an Ineos spokesman told the BBC.
After failing with his Chelsea takeover when Roman Abramovich sold the Blues to American tycoon Todd Boehly and his consortium, Ratcliffe is back in the hunt for a Premier League giant.
United have yet to comment on the news of the 70-year-old’s interest in taking over from the United States-based Glazers.
Born in Failsworth, Greater Manchester, Ratcliffe is one of Britain’s richest men and is more palatable to the United support than the Glazers, who have experienced numerous fan protests during their troubled reign.
The Glazers, who completed a leveraged takeover of the club in 2005, have proved deeply unpopular with supporters due to the team’s declining fortunes on the pitch.
Their purchase of United also saddled the club with huge debts and they have long been accused of taking more out financially than they have invested in transfer funds.
The Glazers further angered United fans by backing the failed European Super League project in April 2021
A statement from United in November said the board will “consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the company”.
United have not won the league since 2013 in legendary manager Alex Ferguson’s final season. Their last major trophy came six years ago when a Jose Mourinho-led side won the Europa League.
Born in Failsworth, Greater Manchester, Ratcliffe (above) is one of Britain’s richest men and might be more palatable to United fans than the current owners, the US-based Glazer family.
PHOTO: AFP
After finishing sixth in the Premier League last season, United have been revitalised by boss Erik ten Hag and sit fourth in the table.
Ineos is keen to expand a sporting portfolio that already includes ownership of French side Nice and Swiss team FC Lausanne-Sport, the cycling team Ineos Grenadiers (formerly Team Sky), as well as being principal partners to eight-time Formula One champions Mercedes.
Ratcliffe may face competition from Saudi Arabian investors
There are reportedly also potential buyers from the United States and Asia.
American investment firm Raine Group, which handled Chelsea’s sale, are exclusively advising United, who are valued at around £5 billion.
The Times newspaper, which first reported the news, said formal bids were expected to start in February, with United potentially changing hands by the end of the season.
United’s rivals Liverpool are also looking to attract investment, after chairman Tom Werner said in November that their owners Fenway Sports Group (FSG) is exploring a sale of the club, but there was no urgency to complete any potential deal.
Bloomberg News also reported this week that United, Liverpool or Tottenham Hotspur are being targeted by Qatar Sports Investments (QSI) over a potential acquisition.
Spurs, however, said “there is no truth in reports that a meeting took place regarding the sale of equity in the club”.
QSI is the owner of French champions Paris Saint-Germain and has a stake in Portuguese club SC Braga. AFP, REUTERS
