Sir Jim Ratcliffe’s company INEOS has formally entered the bid for Manchester United.
sky sports news corroborates a story first reported by era Ratcliffe, one of Britain’s richest men, wants to complete a takeover of the Premier League giants.
United’s current owners, the Glazer family, announced in November that they were open to offers for the club after a 17-year reign of fan protests and declining performances on the pitch.
Ratcliffe’s chemical company INEOS has announced that it has formally expressed an interest in Glazers.
“We have formally invested in the process,” a spokesman said.
Ratcliffe has made no secret of his interest in buying Manchester United. He supported them from a young age and is believed to remain a fan of theirs.
The 70-year-old billionaire was one of the bidders for Chelsea when their ownership was up for grabs following the start of Russia’s war against Ukraine.
When Roman Abramovich was sanctioned for his links to Vladimir Putin’s regime in Moscow, his £4.25bn offer was rejected in a government-ordered sale process. reject.
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Ratcliffe is no stranger to big sports investing. He also owns cycling team INEOS Grenadiers, Ligue 1 side Nice, which he took over in 2019, and Swiss Super League club FC Lausanne-Sport.
As well as Ratcliffe, Saudi Arabia’s sports minister, Prince Abdulaziz bin Turki Al Faisal, has also previously confirmed his country’s interest in buying Manchester United – worth around £5bn. Tech giant Apple is another reported interested party.
Manchester United live Sky Sports Premier League and main activities They travel to Crystal Palace this Wednesday. Coverage starts at 7.30pm and starts at 8pm.
‘Ratcliffe has always been interested in Manchester United’
Sky Sports News Chief Correspondent Kaveh Solhekol:
“Sir Jim Ratcliffe is one of the wealthiest men in Britain.
“He tried to buy Chelsea in the past. He failed to buy Chelsea.
“When it was suggested that United were looking for investors, maybe a new owner, he made no secret of the fact that he wanted to buy United.
“He also owns Nice in France. He owns Lausanne in Switzerland and Ineos Cycling. He owns shares in the Mercedes F1 team.
“So, he’s very interested in sport, he’s been a Manchester United fan since he was a kid. He always said he wanted to buy Manchester United.”
Neville: Man United boss’ manifesto key
Speaking after the Glazers announced they were willing to sell United, sky sports Pundit Gary Neville says any potential new owners must communicate their plans to supporters.
“I think what United fans need to see is a manifesto from the new owner,” Neville said in an interview. sky sports news Veteran reporter Melissa Reddy.
“United cannot give power to an owner who is basically opposed to what the club stands for or what the club wants. So I think it’s really important to have some manifesto commitments – like the voice of the fans, the experience of the fans, maybe even on the board Offer jobs to fans.
“But the sporting program needs to improve. What will it be? Will the new owners not pay dividends? Will they make sure it’s a debt-free football club and are they reinvesting? Maybe there’s a new stadium that needs to be built or a new training ground.
“These are the commitments I can think of that would be very important for anyone bidding for Manchester United. It’s a manifesto that needs to be made so that the fans can understand.
“There’s going to be a lot of bids and billions of dollars, and I think if the Glazers want to get out the right way, it’s to sell it to a party that’s not only the highest bidder, but if they can get the parties to close, They’re going to get a number they like, so it’s great that they can make some suggestions to season ticket holders.
“Because the reality is that if the Glazers want to get it right, they have to make sure the club throws a party where the fans don’t believe they’re messing with another owner they don’t like.”
A timeline of Glazer family rule at Manchester United
With the Glazers’ ownership of Manchester United likely coming to an end, let’s take a look at a timeline of their contentious reign…
March 2003 – The Glazer family, headed by Malcolm, bought a 2.9 per cent stake in Manchester United after investing £9m, which was increased later that year.
May 2005 – After steadily increasing their stake in the club, the Glazers made a formal takeover bid, which was accepted.
June 2005 – Now owning 98% of the shares, the Glazers officially own Manchester United, incurring £525m in debt for the club.
May 2006 – “Love Manchester United hate Glazers” banners appeared at Old Trafford as fans began to show signs of unrest.
May 2010 – Hundreds of United fans, clad in yellow and green, protested ownership ahead of the final game of the 2009/10 season after the Glazer family ran the club with huge debts.
August 2012 – Manchester United is listed on the New York Stock Exchange, with the Glazer family profiting from the sale of some of their shares.
May 2014 – Malcolm Glazer has passed away, but the club’s operations remain unaffected.
April 2021 – The revelation of Joel Glazer as one of the key players behind the ill-fated Premier League scheme has sparked outrage among fans, politicians and even the royal family. Later that month, fans broke into the club’s training ground in protest.
May 2021 – As many as 10,000 Manchester United fans stormed Old Trafford to protest their owners, prompting the cancellation of a Premier League game against Liverpool. Criminal damage occurred and six police officers were injured.
August 18, 2022 – British billionaire Sir Jim Ratcliffe has revealed he would be interested in buying Manchester United if the Premier League club were sold.
August 22, 2022 – There was a more peaceful protest ahead of United’s game with Liverpool, with thousands of fans marching from the city center to the stadium ahead of the 2-1 win.
November 22, 2022 – The Glazers have announced they are “exploring strategic options”, including selling the club.
January 17, 2023 – Ratcliffe’s company INEOS has officially entered the bid for Manchester United.