Sir Jim Ratcliffe is planning a Manchester United takeover bid, reports The Telegraph.
Ratcliffe’s interest is described as ‘serious’, with the total figure of the offer expected to be dependent on the club’s Champions League qualification.
Manchester United are currently up for sale after the Glazers issued a statement inviting minority investment and a full blown sale.
A full sale is viewed as the only acceptable outcome by Manchester United supporters, and the expectation is that the club will have new owners by summer.
The Raine Group have been assigned to oversee offers, the same investment firm which conducted the sale of Chelsea last year.
Initial deadline set
David Ornstein told NBC Sports recently that the intention is for the club to be sold early in 2023.
The Telegraph report: “United are expected to inform interested parties in the coming days that formal bids will be taken next month for total buyouts as well as minority stakes.
“There appears still to be flexibility around the mid-February deadline, but the club aims to complete a deal within the first quarter or by the end of April.”
It is better for Manchester United to have this sale completed in advance of the summer transfer window, in order to be able to conduct deals to strengthen the team for the 2023/24 season.
News of United being put up for sale broke in early November, giving investors time to plan in advance of this ‘flexible’ mid-February deadline.
The Glazers have owned a majority stake in United since 2005, and have overseen a period of underinvestment in the club’s facilities, growing debt, and a dramatic slide in performances on the pitch.
No money has been put up for permanent transfer moves this January, leading the club to look at loan deals.
Sir Jim Ratcliffe is just one would-be investor. There has been speculation there could be bidders from the Middle East, in addition to US tech companies.
Ratcliffe has a personal net worth of £7.1 billion, with his company Ineos having an annual turnover of £44 billion, report The Times.
So far no formal bidders have come out and expressed plans to buy the club. This could soon all change over the next month, and with manager Erik ten Hag leading a rejuvenation on the pitch, the club look even more appealing to investors.