Man Utd transfer news: Britain’s richest man Sir Jim Ratcliffe confirms interest in the club

Ineos already owns clubs 

This article was first published on November 22 but has since been updated with new information.

Just hours after announcing the mutual agreement to terminate Cristiano Ronaldo‘s contract, Manchester United fans faced another bombshell in late November. The Athletic reported on Nov. 22, 2022, that the club’s owners, the Glazer family, have instructed banks to handle the sale of the club. The club has hired the Raine Group, which was also in charge of handling Roman Abramovich’s sale of Chelsea, to act as the club’s financial advisor. Now almost two months later, Ineos, the company owned by Britain’s richest Man Sir Jim Ratcliffe has confirmed that he is interested in the club. 

For sale?

Man United confirmed in a club statement that they will pursue strategic changes. Could the Glazers finally be on their way out? pic.twitter.com/0tqHz8kGqV

— Transfermarkt.co.uk (@TMuk_news) November 22, 2022

Following a statement from the club, which confirmed that they have started to “explore strategic alternatives” early in November, the club’s co-owner Avram Glazer stated in an interview with Sky News that a sale was certainly being considered. “As we announced yesterday, the board went through a process, and it’s decided it’s going to look at different strategic alternatives, and that’s what we’re doing,” said Glazer. When asked about the club being sold, he said: “Well, once again, we’ve gone through a process, we’re going to look at all different strategic alternatives, and we’ll see where that leads us, so I appreciate you talking to me tonight, and I want to wish everyone a happy thanksgiving.” 

“As we seek to continue building on the Club’s history of success, the Board has authorized a thorough evaluation of strategic alternatives,” executive co-chairmen and directors Avram Glazer and Joel Glazer said in a club statement. “We will evaluate all options to ensure that we best serve our fans and that Manchester United maximizes the significant growth opportunities available to the Club today and in the future. Throughout this process, we will remain fully focused on serving the best interests of our fans, shareholders, and various stakeholders.”

Ineos starts “process” of bidding – Owned by Britain’s richest Man

The Glazers bought the club for £790 million in 2005, and frequent fan protests have overshadowed their reign. Furthermore, the English giants, who dominated the Premier League under Sir Alex Ferguson throughout the 1990s and 2000s, have been without a league title since 2013. Man United are reportedly not the only club for sale. Liverpool owners FSG are reportedly looking to generate over €4 billion from a sale. American Todd Boehly recently bought Chelsea for €2.92bn.  

Following on from the news that Man Utd’s current owners would be happy to sell the club, the Daily Telegraph reported that Ratcliffe, is planning on making an offer for the Old Trafford club. English media, including the BBC, reported that Ineos, the company owned by Ratcliffe is now interested in buying the club. The company itself said on Jan. 17, 2023, in an official statement that they had now started the process of buying the club. “We have formally put ourselves into the process of bidding,” a spokes person has told The Times. 

The owner of the petrochemical giant Ineos, Ratcliffe, is a well-known fan of the Red Devils and previously made a bid to buy Chelsea in the summer before being outbid by the club’s new owner Boehly. The English publication report that while Ratcliffe is wary of overpaying for Man Utd, he is very interested in taking the club off the Glazer’s hands. 

Ineos already owns Ligue 1 club Nice and Swiss club Lausanne but, according to the Telegraph, would not have to sell their ownership of the club if they did buy Man Utd in the coming months. However, neither club would be allowed to play against one another in European competition under current UEFA rules. 

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