Jim Ratcliffe bids to buy Manchester United
When the news of the sale of Manchester United first broke on the 22nd of November 2022 it came as a major shock to the world and even overshadowed events of the world cup which was taking place at the time.
The Glazer family who has had control over the most famous club in England for a period of 17 years have been saddled with millions of pounds of debt in that time and their reign over the club seems at an end. The Glazer family who are spearheaded by Joel and Avram Glazer initially sought investment into the club to help with the long overdue Old Trafford reconstruction and needed investment into the squad and structure of the club, when such investment wasn’t forthcoming the Glazers obtained the services of the Raine Group to oversee the sale of the club.
Sir Jim Ratcliffe who is Britain’s richest man and owner of INEOS a chemical multinational company tabled a bid through his company spokesperson saying “We have formally put ourselves into the process,”. The 70-year-old billionaire has constantly been linked with buying the club having supported them as a child and still remains a fan. Sir Jim is already invested in football in Europe already owning two football clubs, Nice in the French Ligue 1 and Lausanne sport in the Swiss super league. Investing well in both projects to increase their standing and both clubs’ standings within their respective leagues.
Manchester United who is currently valued at £ 5 billion require heavy investment to return to their status as the Kings of England and the United fan base will be hopeful Sir Jim Ratcliffe can bring back the glory days to Old Trafford.