JIM’S BID SIR JIM RATCLIFFE’s bid to buy Manchester United is £4billion, reports claim.
That is £1bn less than the £5bn Sheikh Jassim Bin Hamad Al Thani is believed to have tabled for the Red Devils.
Sir Jim Ratcliffe has lodged a bid to buy Manchester United
Ratcliffe has lodged an offer worth £4bn, according to Foot Mercato.
That falls short of the £6bn the Glazers are thought to be demanding to sell the club.
However, in contrast to Sheikh Jassim’s attempt to take full control, Ratcliffe’s bid is for “majority ownership” of the club.
The current owners set a soft deadline of 10pm on Friday for interested parties to submit their offers to buy United.
That prompted bids from both Sheikh Jassim and Ratcliffe, while Saudi and US-led consortia are also believed to be in the contest.
Oldham-born Ratcliffe already has experience in football ownership.
His INEOS chemicals company own French side Nice and Swiss outfit Lausanne-Sport.
And INEOS released a statement on Saturday morning, outlining their bid and their goals for United.
It comes after Sheikh Jassim vowed to return United to “its former glories” if his bid for full control is successful.
INEOS’ statement set out a plan to get the Red Devils challenging for Champions League glory and becoming the No1 club in the world.
It read: “We can confirm that Sir Jim Ratcliffe and INEOS have submitted a bid for majority ownership of Manchester United Football Club.
“We would see our role as long-term custodians of Manchester United on behalf of the fans and the wider community.
“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 in 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.”
The Raine Group, the bank overseeing the process, will now determine the next steps in the sale following Friday’s soft deadline for bids.