Ratcliffe’s Ineos confirms bid to buy Manchester United
MANCHESTER, England (AP) — British billionaire Jim Ratcliffe’s firm Ineos confirmed Saturday it has made a bid to purchase Manchester United, pledging to make the Premier League workforce “the number one club in the world once again.”
Ratcliffe’s Ineos firm will compete with Qatari banker Sheikh Jassim Bin Hamad Al Thani, who additionally submitted a bid on Friday to purchase out the Glazer household.
The 70-year-old Ratcliffe is certainly one of Britain’s wealthiest individuals with an estimated internet value of 12.5 billion kilos ($15 billion) following the success of his international chemical firm.
“We can confirm that Sir Jim Ratcliffe and Ineos have submitted a bid for majority ownership of Manchester United Football Club,” the corporate stated in an announcement. “We are ambitious and highly competitive and would want to invest in Manchester United to make them the number one club in the world once again.”
Ineos additionally appeared to solid itself as an alternative choice to international possession, with the Qatari bid coming within the wake of a Saudi takeover of Newcastle final 12 months. Defending league champion Manchester City — United’s crosstown rival — has been Abu Dhabi-owned since 2008. Sheikh Jassim’s bid has emphasised that solely non-public wealth is getting used, in distinction to the Qatari state-backed possession of Paris Saint-Germain.
“We also recognize that football governance in this country is at a crossroads,” Ineos stated. “We would want to help lead this next chapter, deepening the culture of English football by making the club a beacon for a modern, progressive, fan-centred approach to ownership. We want a Manchester United anchored in its proud history and roots in the North-West of England, putting the Manchester back into Manchester United and clearly focusing on winning the Champions League.”
Ratcliffe introduced his intention to bid final month. That was a shift in technique from final 12 months when he launched a last-minute bid for Chelsea, however was not thought of as a result of he missed the deadline.
Ratcliffe, who already owns French membership Nice, final 12 months stated he had no real interest in one other bid for a Premier League membership after lacking out on Chelsea and receiving little encouragement from the Glazers for United. But he could be a well-liked alternative amongst followers due to his longstanding help of the membership.
