London Daily

Focus on the big picture.
Wednesday, Apr 02, 2025

Ratcliffe and Ineos confirm Man Utd bid

Ratcliffe and Ineos confirm Man Utd bid

British billionaire Sir Jim Ratcliffe and his petrochemicals firm Ineos have confirmed their bid for "majority ownership" of Manchester United.

Sheikh Jassim bin Hamad Al Thani, chairman of one of Qatar's biggest banks, has also tabled a bid.

The Glazer family are considering selling the club and a 'soft deadline' of Friday had been set for proposals.

Ineos said it wants to make the club a "beacon for a modern, progressive, fan-centred approach to ownership".

In a statement confirming its bid for the 20-time English champions, the company added: "We would see our role as the 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."

It added: "We also recognise that football governance in this country is at a crossroads. We would want to help lead 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."


Who are Ineos and Ratcliffe?


The Ineos group, owned by 70-year-old British billionaire Ratcliffe, has a history of investment in sport and owns French Ligue 1 club Nice and Swiss Super League club Lausanne.

Its sporting portfolio also includes high-profile sailing team Ineos Britannia, led by Sir Ben Ainslie, which is aiming to win the 2024 America's Cup for Great Britain.

Ineos also has a five-year partnership with Formula 1 team Mercedes and took over British-based cycling team Ineos Grenadiers (formerly Team Sky) in 2019.

Ratcliffe made an unsuccessful late £4.25bn offer to buy Chelsea last year when Russian owner Roman Abramovich put the London club up for sale.

Ratcliffe - born in Failsworth, Greater Manchester - is a boyhood fan of United and one of the UK's richest men. His personal wealth is estimated at somewhere between £11bn (Forbes) and £6bn (Sunday Times), which makes him the 27th wealthiest person in the UK on the Sunday Times Rich List.

His petrochemicals firm Ineos makes about £50bn in annual sales and employs more than 26,000 people across 29 countries.

Following his failure to acquire Chelsea, Ratcliffe said he would have tried to buy United but, after meeting with brothers Joel and Avram Glazer, he stated that they did not want to sell - a stance that has now changed.

At least two offers for United from the United States are expected, while there have also been suggestions of interest from Saudi Arabia.

That means there could be up to five parties trying to negotiate a full sale, with others looking to make a smaller investment in return for a partial stake in the club.

The Glazer family have owned United since 2005 and in November confirmed they wanted to "explore strategic alternatives" for the club.


What has the Qatari bid said?


Sheikh Jassim's Qatari consortium has promised to "return the club to its former glories".

It added: "The bid will be completely debt free via Sheikh Jassim's Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the club supports.

"The vision of the bid is for Manchester United to be renowned for footballing excellence, and regarded as the greatest football club in the world."

Described as a life-long Manchester United fan, Sheikh Jassim is chairman of Qatari bank QIB and the son of a former prime minister of Qatar.

Concerns have been raised about a Qatari bid by human rights group Fair Square and Manchester United LGBTQ+ fan group Rainbow Devils.

Newsletter

Related Articles

0:00
0:00
Close
Europe Pursues Digital Autonomy Amidst Transatlantic Strains
OpenAI Lands Unprecedented $40 Billion Funding.
Charity Chairwoman Accuses Prince Harry of Bullying and Harassment
DOGE revealed that USAID provided $84 million to the Clinton Foundation. Of this amount, $3 million was spent on Chelsea Clinton's wedding, and $10 million was used to acquire a lavish mansion.
The State Department has announced the formal closure of USAID.
Apple's Innovation Deficit: Falling Behind in AI and Foldable Technology as Chinese Developments Progress
President Trump Proposes Military Intervention to Obtain Greenland
Passenger Taken into Custody After Engaging in Masturbation on SWISS Air Flight
Barcelona player Dani Alves found not guilty of rape accusations.
PUTIN'S LIMOUSINE DETONATES—SECURITY CHAOS ENSUES
French Foreign Ministry Denounces U.S. Interference in Corporate Diversity Initiatives
Copyright Issues Emerge as AI-Generated Studio Ghibli Images Gain Popularity
This is what we refer to as CREATIVITY.
Removing the Political Opponent Means Dismissing the Remnants of Turkey's Economy.
Malaysia Strengthens Semiconductor Regulations in Response to U.S. Pressure to Restrict AI NVIDIA Chip Exports to China.
OpenAI Launches New Image Generation Tool for ChatGPT
Ex-FIFA President and French Football Icon Acquitted of Corruption Allegations
National Security Advisor Mike Waltz Under Investigation After Journalist Added to Secret Military Chat
Ex-Business Partner of Hunter Biden Discusses Possible Pardon from President Trump
U.S. Attorney General Announces Task Force to Prosecute Government Fraud
American Brands Face Consumer Boycott in Europe Amid Escalating Trade and Political Tensions
White House Investigates Security Breach After Journalist Accidentally Added to Secret Yemen Strike Chat
Samsung Executive Han Jong-hee Dies Suddenly Amid Ongoing Corporate Challenges
German President Frank-Walter Steinmeier has just signed off on a national debt hike to fast-track Germany’s militarization
Heathrow Airport Restarts Services as Investigation into Power Outage Commences
Pope Francis Released from Hospital Following Pneumonia Treatment
Pope Francis Appears in Public for the First Time in Five Weeks After His Hospital Stay
Usha Vance to Head U.S. Delegation During Greenland Visit Amid Discussions on Annexation
Trump suggests US could join British Commonwealth if offered by King Charles
Elon Musk Files Lawsuit Against Jamaal Bowman for Defamatory Remarks
European Countries to Boost Defense Expenditures in Response to Changes in U.S. Assistance
Iconic Boxer George Foreman Dies at 76
European Airline Shares Fall Following Disruption from Heathrow Power Outage
Pope Francis Set to Leave Hospital Following Recovery from Pneumonia
Thousands Take to the Streets in Amsterdam to Protest Racism and Fascism
Revealing the Electromagnetic Characteristics of the Great Pyramid of Giza
President Trump Cancels Security Clearances for Notable Political Figures.
The Development of China's Automotive Sector
Netanyahu Dismisses Shin Bet Chief Amid 'Loss of Trust' and 'Qatargate' Corruption Investigations Involving Netanyahu's Advisors
UK Conservatives Remain Optimistic Despite Polling Challenges
Labour MPs Unveil Initiative to Combat Harmful Influencers and Advocate for Healthy Masculinity
Miami Beach Mayor Cancels Plan to Expel Cinema Following Documentary Showing
Thousands of Drones Illuminate the Sky in Honor of Trump.
Leaders of the US and Ukraine Participate in Constructive Call During Ongoing Conflict
Elon Musk's X Experiences Valuation Recovery to $44 billion.
UK Government Set to Implement Major Budget Cuts in Spring Statement
US Federal Reserve Downgrades Economic Growth Outlook Due to Tariff Uncertainty
EU Claims US Tech Giants Have Violated Digital Regulations
Canada Denounces the Execution of Its Citizens in China Amid Rising Tensions
European Union Moves Toward Joint Debt for Military Spending
×