The Times: Sir Jim Ratcliffe wants to buy Manchester United

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Sir Jim Ratcliffe, one of Britain’s richest men, is set to take part in the official processes to buy Manchester United.

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– We have formally introduced ourselves to the operation, Ratcliffe’s spokesperson confirmed on Tuesday, according to a reliable newspaper. times.

According to the American magazine Forbes Ratcliffe is worth $15.5 billion, just over 150 billion kroner. He founded Ineos, one of the world’s largest chemical producers.

Ineos also has a factory in Bumble (Telemark). Ineos and Ratcliffe own the professional cycling team Ineos Grenadiers and the football club Nice in France.

The Times reported that it is expected that there will be offers to buy Manchester United from the United States of America, the Middle East and Asia. But Ratcliffe is the first to publicly confirm his interest in the acquisitions.

Ratcliffe and Ineos confirmed they were also interested in buying Chelsea last year, but the London club ended up with Todd Boyley.

information

The Glazer family at Manchester United

The Glazer family bought their first shares in Manchester United in 2003 and acquired a majority stake two years later. It happened through a debt-financed buyout – a loan paid by the family out of the club’s income.
In 2005, they bought up to 98 percent of the shares, but have since reduced their stake and now own just under 75 percent of the shares.
Since the takeover, the club has to pay more than NOK 11 billion in management fees and direct profits to the family.
The family is accused of investing very little in the club and rarely appearing in club matches. They rarely communicate with fans
In 2005 and 2010 there were major protests from Manchester United fans against the Glazers, while in recent years there have been more protests.
Brothers Joel and Avram Glazer are joint chairman of Manchester United

At the moment, the formal processes for the takeover have begun and potential buyers must register their interest with the Raine Group, the company Manchester United works for to assist in the sale, according to The Times.

While the bidding round for the purchase of Manchester United is expected to start during the month of February. It should be possible for the new owners to take over before the next season begins.

In late November, Manchester United confirmed that the Glazers were Open for sale football club. The Times claims that the Glazer family hopes to bid in excess of £5 billion – about NOK 60.6 billion.

In October, Ratcliffe talked about meetings with Joel and Avram Glazer, and did not hide his interest in Manchester United.

– I met Joel and Avram and they are the sweetest people. They are real masters and don’t want to sell. Had the club been up for sale this summer, we might have tried after the Chelsea affair, Ratcliffe said at a conference organized by the Financial Times, but we cannot sit back and hope that Manchester United will be available one day.

Manchester United won Saturday’s bid against Manchester City in the Premier League. The red shirts are fourth in the league, nine points behind league leaders Arsenal.

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Posted: 01/17/23 at 18:27

Updated: 01/17/23 at 18:55