17
Sir Jim Ratcliffe and INEOS have released an official statement regarding their bid for Manchester United Football Club.
Yesterday evening, The Telegraph revealed that Sir Jim and his INEOS group have submitted an official bid to buy Manchester United from the Glazer family.
Qatar’s Sheikh Jassim bin Hamad Al Thani is the only other known party to have officially submitted a bid to buy the club.
Ratcliffe reportedly found Wall Street backers to fund his takeover offer.
A recent report puts the amount at €4.5 billion.
Fans are a little disillusioned with Ratcliffe’s potential ownership due to his unconfirmed debt situation. Controversy in the country persists, making it a problematic topic.
Over 17 years of ownership, the Glazer family, which used bank leverage to finance the acquisition, amassed a debt of around €600 million to the club.
INEOS generated approximately $61 billion in revenue last year.
A statement by an INEOS spokesperson reads:
“We can confirm that Sir Jim Ratcliffe and INEOS have submitted a bid for majority ownership of Manchester United Football Club.
“We act as long-term stewards of Manchester United on behalf of our fans and the wider community. We are ambitious, highly competitive and invested in Manchester United. , I want to make it the best club in the world again.
“We also recognize that the governance of football in this country is at a crossroads. By making it a beacon, we hope to deepen the culture of English football.
“We want Manchester United to be rooted in its proud history and roots in the North West of England, returning Manchester United to Manchester United and clearly focusing on winning the Champions League.”
UNITED MATCHDAY MAGAZINE – READ IT ALL IN RED! Want more content from United? Everything you need is available here. For just £1.25 per issue or £3.75 per month, get unique United information straight to your inbox. Before each match and throughout the month. That’s not all – United Matchday is packed with articles, news, transfer news, puzzles, nostalgia and humor.
