Manchester United fan and billionaire Sir Jim Ratcliffe interested in buying the club |  UK News

Manchester United fan and billionaire Sir Jim Ratcliffe interested in buying the club | UK News

One of Britain’s richest men, Manchester United fan Sir Jim Ratcliffe, is interested in buying the Premier League club if it were up for sale.

A source told Sky Sports News that Ratcliffe, owner of the Ineos Grenadiers cycling team, is serious about the purchase. Unitedand former players would be involved along with Grenadiers general manager Sir Dave Brailsford, a former director of performance at British Cycling.

The 69-year-old billionaire is the chairman and CEO of the chemical company Ineos and also owns the French Ligue 1 soccer team Nice, which he took over in 2019, and the Swiss team FC Lausanne-Sport.

The British billionaire, who has a net worth of $7.18 billion (£5.96 billion), according to Bloomberg, was unsuccessful in his Last-minute £4.25bn offer to buy Chelsea in May, when American businessman Todd Boehly successfully acquired the club, and Ratcliffe has now turned his attention to the Red Devils.

His interest comes after a Bloomberg report said the Glazer family, which has owned United since 2005, is considering selling a minority stake in the club.

Preliminary discussions have been taking place about bringing in a new investor, according to the broadcaster, which ranks Ratcliffe as the sixth-richest person in the UK.

An Ineos spokesman said the company would be interested in buying a smaller stake with a view to eventually buying the club.

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“If something like this were possible, we would be interested in talking with a view to long-term ownership,” an Ineos spokesman told The Times.

“It’s not about money spent or not spent. Jim is looking at what can be done now and knowing how important the club is to the city, it seems like the right time for a restart.”

Manchester United chairman Avie Glazer with chairman Joe Biden in July 2021. Photo: AP
Image:
United President Avie Glazer with Joe Biden in July 2021. Photo: AP

The Glazer family is not ready to give up the majority stake and is expected to value the club at more than double its current market capitalization of $2.2bn (£1.83bn), another source said.

The Glazers are unpopular with United fans, who are unhappy with the club’s ownership model and declining performance on the pitch, having not won a Premier League title in nine years and not won a trophy in five.

The team is currently bottom of the league with no points after two games, while United’s net debt had grown 11% to around £496m at the end of March.

The owners have also been criticized for failing to upgrade Old Trafford, the country’s largest club ground with a capacity of around 74,000 fans.

Supporters regularly protest against them.

Manchester United supporters at Old Trafford hold up a banner reading 'Glazers Out'.  in the stands in April.  Photo: AP
Image:
United fans at Old Trafford hold up a banner reading “Glazers Out” in April. Photo: AP

Manchester United did not comment on the story. The club has refused to discuss rumors and speculation.

The news comes the same day as the founder of Tesla Elon Musk clarified a previous tweet which seemed to suggest that he was buying the club.

He later wrote, “I’m not buying any sports teams. Although, if it was any team, it would be Man U. They were my favorite team growing up.”

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