Manchester United leaders have personally DISAPPOINTED about Sir Jim Ratcliffe’s plans to buy the club…
Manchester United officials have personally spoken scathingly about Sir Jim Ratcliffe’s plans to bid for the club, arguing that the owner of INEOS has no intention of complying with the Glazer family’s demand for offers from over £6 billion.
Ratcliffe became the first potential bidder to publicly express his hand last week, with an INEOS spokesperson confirming: ‘We have formally put ourselves into the process.’
However, United believes that the company’s main concern is getting positive publicity.
Manchester United have doubts about Sir Jim Ratcliffe’s intentions to buy the football club
Ratcliffe came out last year with his desire to buy Chelsea, but only after the bid deadline had passed.
Chelsea was acquired by a consortium led by Todd Boehly in May last year.
Ratcliffe met United co-chairs Joel and Avram Glazer for formal talks last year, and he is currently the only party to have formally announced their interest in buying the club.
The 70-year-old is one of Britain’s richest men and a United fan from his youth, and is expected to receive rival interest from the United States, Asia and the Middle East after the Glazer family revealed their willingness to to sell United after 17 years in power at Old Trafford.
There is a feeling he is unlikely to meet Glazers’ £6bn asking price for a takeover
Ratcliffe is expected to face competition from around the world to buy out Manchester United
Investment banker Raine lists other potential suitors, but the pool of potential buyers is small.
The bidding process isn’t underway yet, though the Glazers aren’t averse to staying in control if they don’t see the value in any offers that are eventually presented to them. Co-President Joel Glazer continues to play an active role in running the club.
It is clear that the process for whoever takes over the club can be completed before the end of the season.
However, the £6 billion asking price from the Glazers is an eye-watering asking price for the club. Especially when compared to Chelsea, who were bought for £4.25 billion.
United’s maligned owners, who completed a takeover in 2005, have been the subject of sustained fan protests, which have become more prominent in recent seasons.
Ratcliffe showed late interest in Chelsea, who were taken over by Todd Boehly (pictured)