Last Update: January 18, 2023, 00:17 IST
Jim Ratcliffe’s Ineos announced an interest in buying Man Utd (AFP and AP Image)
Boyhood United fan Ratcliffe, who made an unsuccessful bid to buy Chelsea last year, has long been associated with the Old Trafford outfit.
British billionaire Jim Ratcliffe’s Ineos officially entered the race to buy Manchester United on Tuesday.
United’s owners, the Glazer family, said they were ready to listen to offers from Premier League clubs in November and that Ratcliffe was keen on a deal.
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Boyhood United fan Ratcliffe, who made an unsuccessful £4.25bn ($5.2bn) bid to buy Chelsea last year, has long been linked to the Old Trafford outfit.
A spokesman for Inios told the BBC: “We have formally included ourselves in the process.”
After his takeover of Chelsea failed when Roman Abramovich sold the Blues to American tycoon Todd Bohli and his consortium, Ratcliffe is back in the hunt for the Premier League legend.
United have yet to comment on reports of interest from the United States-based Glazers in the 70-year-old.
But, born in Failsworth, Greater Manchester, Ratcliffe is one of Britain’s wealthiest men and may be more palatable to United’s support than the Glazers, who have experienced numerous fan protests during their troubled reign.
The Glazers, which completed a leveraged takeover of the club in 2005, have proved deeply unpopular with supporters in recent years due to the team’s declining fortunes on the pitch.
His purchase of United also left the club saddled with huge debts and he has long been accused of financially extracting more than he invested in transfer money.
The Glazers angered United fans further by backing the failed European Super League project in April 2021, which has led to the club becoming involved in a breakaway competition.
A statement from United in November said the board would “consider all strategic options including new investment in the club, the sale or other transactions involving the company”.
United haven’t won the Premier League since 2013 and their last major trophy came six years ago.
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After a disappointing sixth-place finish in the Premier League last season, United have been revived by boss Erik ten Haag and moved up to fourth in the table after beating arch-rivals Manchester City 2-1 on Saturday.
Ineos is keen to expand a sports portfolio that already includes French side Nice and Swiss team FC Lausanne-Sport as well as cycling team Ineos Grenadiers, formerly owned by Team Sky.
Ratcliffe could face competition from Saudi Arabian investors after the country’s sports minister, Prince Abdulaziz bin Turki al-Faisal, said in November that United and Liverpool could be interested in buying, which are also up for sale. .
Rhine Group, the US investment firm handling the Chelsea sale, is exclusively advising United, which is valued at around £5bn.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)