Home » Sir Jim Ratcliffe publicly declares he has entered the bidding process to buy Manchester United

Sir Jim Ratcliffe publicly declares he has entered the bidding process to buy Manchester United

by Derick Kinoti


British billionaire Sir Jim Ratcliffe has given his clearest indication of his desire to own Manchester United.

As the Glazers announced that they were willing to sell up and finally let go of England’s biggest and most successful football club, the world’s richest men and corporations took interest.

It was recently reported that Dubai is leading the race to take over the Red Devils fully.

It was also relayed that other parties will need to match what Dubai is willing to cough up for United.

Another report indicated that Ratcliffe was preparing to table a formal proposal for a complete takeover of United, and he has made the first step towards doing so.

The Times reports, “Ineos has entered the bidding process to buy Manchester United. Sir Jim Ratcliffe has confirmed that he is officially in the running to buy the club from the Glazers.”

“Offers are expected from the United States, the Middle East and Asia, but Jim Ratcliffe is the first to confirm his interest in United through a spokesperson publicly.”

A spokesperson for the Ineos billionaire stated, “We have formally put ourselves into the process [of bidding for Manchester United]

The Times adds that more bids are likely to come in from other parts of the world, including the USA, Asia and the Middle East.

At present, interested parties will have to sign confidential documents to proceed with the bidding process for what has been described as the sale of the century.

Interested parties will also commit to undertaking due diligence before a possible takeover.

The process is expected to go full throttle from next month as potential buyers look to outdo each other.
 




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