Northeast India’s Only English and Hindi Satellite News Channel

British billionaire Jim Ratcliffe makes official bid to buy Manchester United

First Published: 19th January, 2023 8:13 IST

Ratcliffe has experience with significant sporting investments. He also owns the Ligue 1 team Nice, the cycling team INEOS Grenadiers, and the Swiss Super League team FC Lausanne-Sport.

The official purchase bid for English Premier League giants Manchester United has been made by INEOS, a business owned by British billionaire Jim Ratcliffe.

One of Britain’s richest individuals, Ratcliffe, wants to finish the purchase of the Premier League heavyweights, as per ESPN.

With an estimated net worth of £9.8 billion, Ratcliffe is one of Britain’s wealthiest people. He has articulated an interest in acquiring the club from the Glazer family, who disclosed in November that they are considering “strategic alternatives” such as outside investment or a sale.

Ratcliffe’s chemical company, INEOS, declared that it had formally taken its interest to the Glazers.
A spokesman told ESPN on Tuesday, “I can confirm that we have formally put ourselves into the process.”
The fact that Ratcliffe would be interested in purchasing United has never been a secret. He reportedly continues to be a fan after supporting them as a young man.

When Chelsea’s ownership became available following the commencement of the ongoing Russia-Ukraine conflict, the 70-year-old billionaire was one of the interested parties.

His bid of £4.25bn, was rejected under the sale process ordered by the Government when Roman Abramovich, the former owner of Chelsea was sanctioned for his ties to Vladimir Putin.

Ratcliffe has experience with significant sporting investments. He also owns the Ligue 1 team Nice, the cycling team INEOS Grenadiers, and the Swiss Super League team FC Lausanne-Sport.

Saudi Arabia’s plans to acquire United, which are estimated to be worth $5 billion, were previously announced by Prince Abdulaziz bin Turki Al-Faisal, the country’s minister of sports.

Apple, a major player in technology, has reportedly also expressed an interest.

Since 2005, the Glazers have been the club’s owners. During the preceding 18 years, there has been significant fan unrest over the team’s decline in performance.

The last time the team won the Premier League was in 2013, the year Ferguson resigned, and the club has not won a trophy since 2017. Prior to the 2-1 victory over Liverpool in August, over 10,000 supporters participated in a demonstration against the Glazer family’s ownership. (ANI)

COMMENTS

WE RECOMMEND

Banner
BCB extends Mustafizur Rahman’s IPL stay for CSK vs PBKS clash

Mustafizur is now eligible for CSK's back-to-back games against the Lucknow Super Giants (LSG) on April 19 and 23, Sunrisers Hyderabad (SRH) on April 28, and the PBKS on May 1.

16th April 2024
Banner
MI skipper Hardik Pandya names player who turned out to be difference in IPL’s ‘El Clasico’

After the opening duo of Rohit Sharma and Ishan Kishan bashed CSK in the powerplay, it was Pathirana who made the difference in the 8th over.

15th April 2024
Banner
Ruturaj Gaikwad becomes fastest Indian to reach 2,000 IPL runs

The 27-year-old accomplished this milestone against arch-rivals the Mumbai Indians (MI) at Wankhede Stadium in Mumbai.

15th April 2024
Banner
“He has got great feel for what its takes to create a winning environment…”: Hussey on Dhoni

Hussey said that Dhoni creates champion teams and sets them up well for long-term success by trusting his players and assigning them roles.

14th April 2024
Banner
Asian Wrestling Championships 2024: India’s Udit wins silver; Abhimanyou, Vicky bag bronze

A total of five Indian wrestlers, all in the men's freestyle division, were in action on Thursday. Rohit (67kg) and Parvinder Singh (79kg) also competed but could not finish on the podium.

12th April 2024