Ineos chief Sir Jim Ratcliffe remains one of the candidates to take over as Manchester United’s next owner as the Glazer family prepares for a potential sale
Sir Jim Ratcliffe has been spotted arriving at Manchester United as the potential buyer takes the next step in takeover talks.
The billionaire INEOS chief is one of the potential buyers. The current owners, the Glazer family, confirmed in November that they are willing to listen to offers. Qatari banker Sheikh Jassim bin Hamad Al Thani has also expressed interest, while other groups are eager to fund takeover bids for the Premier League club.
Ratcliffe’s arrival comes amid news that potential bidders have been given a new 10-day deadline to submit improved bids for the club. Ratcliffe is keen to buy the Glazers’ shares, representing 69 per cent of the club, while Sheikh Jassim has spoken of his desire to complete a 100 per cent takeover.
The Qatari bidder was due to attend a presentation on the takeover process at Old Trafford on Thursday. On Ratcliffe’s arrival, meanwhile, he was greeted by United chief Richard Arnold.
Earlier this week, Ratcliffe brought Dave Brailsford on board to help him with his takeover approach. Brailsford is currently director of sport at INEOS and previously worked with the British cycling team on their successful campaigns for the 2008 and 2012 Olympic Games.
“Sir Jim Ratcliffe and INEOS have made a bid for a majority stake in Manchester United Football Club,” a statement in February said, confirming the billionaire’s plans. “We would see our role as the long-term stewards of Manchester United on behalf of the fans and the wider community.
“We are ambitious and very competitive and would like to invest in Manchester United to make them the number one club in the world again. We also recognize that football governance in this country is at a crossroads. We want to help lead this next year.” chapter, which deepens the culture of English football by making the club a beacon for a modern, progressive, fan-focused approach to ownership.
“We want a Manchester United that is anchored in its proud history and roots in the North West of England, puts Manchester United back in Manchester and is clearly focused on winning the Champions League.”
Ratcliffe, like representatives of Sheikh Jassim before him, arrived in Manchester to meet club staff and watch a presentation. The businessman, who took over as owner of French club OGC Nice in 2019, was also ready for tours of Old Trafford and the Carrington training ground.
Mirror Football understands that the Glazers want at least £5bn for their shares. Although there is concrete interest from several parties, there is a chance that the family will decide not to sell the club, which they have owned for about 18 years.
US bank Raine Group is overseeing the sale, as confirmed in its original November statement confirming Glazers’ plans to listen to offers. Bidders were given the new 10-day deadline to come back with new bids, according to The Mail, and both Ratcliffe and Sheikh Jassim will have met with United staff before this deadline.
One of Glazer’s six siblings could still stay at United even if the club changes hands. Brothers Joel and Avram have taken on prominent roles, while there’s a chance the pair will keep a stake while their siblings Kevin, Bryan, Edward and Darcie sell their stakes.