Sir Jim Ratcliffe will reportedly submit a second offer to buy Manchester United from the Glazer family before Wednesday’s 9pm deadline. The British billionaire’s INEOS group are set to attempt to beat leading rival Qatari banker Sheikh Jassim bin Hamad Al Thani in their bid for a takeover.
According to various reports, Ratcliffe’s INEOS group will join Sheikh Jassim in making a second, improved bid for United after both sent indicative offers before the first deadline on February 17.
After confirming their first bid, INEOS, the petrochemicals firm owned by Ratcliffe, said it wants to make the club a ‘beacon for a modern, progressive, fan-centred approach to ownership.’
“We would see our role as the long-term custodians of Manchester United on behalf of the fans and the wider community,” a statement added.
“We are ambitious and highly competitive and would want to invest in Manchester United to make them the number one club in the world once again.
“We also recognise that football governance in this country is at a crossroads.
“We would want to help lead this next chapter, deepening the culture of English football by making the club a beacon for a modern, progressive, fan-centred approach to ownership.
“We want a Manchester United anchored in its proud history and roots in the North West of England, putting the Manchester back into Manchester United and clearly focusing on winning the Champions League.”
Ratcliffe and his INEOS entourage reportedly impressed United figures during their visit to Old Trafford and Carrington on Friday.
He and Sheikh Jassim’s delegation held ‘positive talks’ about a potential sale, along with at least six other interested parties across a 10-day period.
However, in a following interview with Wall Street Journal, the 70-year-old insisted he wouldn’t pay a ‘stupid price’ to inherit control from the Glazers.
Ratcliffe explained: “How do you decide the price of a painting? How do you decide the price of a house? It’s not related to how much it cost to build or how much it cost to paint.
“What you don’t want to do is pay stupid prices for things because then you regret it subsequently.”
Ratcliffe added that his interest in buying the club he supports boils down to ‘winning things’ and making it a ‘community asset’.
He will know the chance to buy United likely won’t come around again, so it would be no surprise if he tries everything in his financial means to oust his Qatari rivals.
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