Ratcliffe to battle Middle East bidders for Man Utd

The lengthy sale of Manchester United may be nearing its conclusion now that British businessman and supporter Jim Ratcliffe has formally entered the bidding for the English Premier League team.

A representative for Ratcliffe’s Ineos Group is reported to have confirmed that the firm has formally entered the bidding process.

Ratcliffe is announcing his interest in buying the team for the first time in the media and this might result in Middle Eastern investors finally disclosing their interest too.

On the news, Manchester United Plc’s stock rose as much as 1.6%. The announcement that Manchester United’s present owners, the Florida-based Glazer family, were considering a possible sale of the 13-time English Premier League champions sent the team’s stock soaring in November.

In response to what they believe to be a lack of investment in playing personnel and facilities, United supporter organisations have long agitated for a change in ownership.

The team, one of the most recognisable brands in world sports, hasn’t won the premier English league in almost ten years and didn’t make the lucrative UEFA Champions League this year.

It is currently having a better stretch, having lost only one of its last 19 games overall under new manager Erik ten Hag. The club might be worth roughly £5 billion ($6.1 billion) in any sale.

United’s stock price barely changed, giving the company a $3.8 billion capitalization.

According to available data, Ratcliffe has an estimated personal wealth of $12.4 billion. Last year, he launched a last-minute bid for the West London club Chelsea, which was finally sold to a private equity group headed by US billionaire Todd Boehly.

Another prospective buyer for Man Utd is Saudi Arabia. There is a lot of “interest and appetite” for both Manchester United and Liverpool in the kingdom, according to sports minister Prince Abdulaziz bin Turki Al-Faisal, who spoke to the media on the issue in November. He also noted that his government would support a private sector proposal.

The main English Premier League clubs being pursued by Qatar include Manchester United, Liverpool Football Club, or Tottenham Hotspur.

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