Jim Ratcliffe’s INEOS kicks off bid to buy Manchester United — reports The Times | CNN

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CNN

British billionaire Jim Ratcliffe’s company INEOS has formally entered the bidding process to buy Premier League football club Manchester United, The Times reported on Wednesday.

This comes after United’s owners, the Glazer family, announced they were exploring new investment or the potential sale of the England Premier League side in November 2022.

“I can confirm that we have formally committed ourselves to the process,” the spokesperson said without adding details.

Ratcliffe is a majority shareholder in the chemical group INEOS, which owns French Nice, Swiss club Lausanne-Sport, cycling team Ineos Grenadiers and has a partnership with the Mercedes F1 team.

Ratcliffe had previously expressed interest in buying the Red Devils in the summer.

In an email to CNN Sport in August, a spokesperson for Ratcliffe confirmed his interest in the renowned Premier League club, saying: “We are simply confirming interest in the club if it is for sale.”

According to Forbes, Manchester United is worth $4.6 billion.

Controlled by the Glazer family, which also owns the NFL’s Tampa Bay Buccaneers, United is one of the biggest football clubs in the world, but has not won the English Premier League since 2013.

In May, Ratcliffe made a last-minute bid to buy Chelsea FC before losing to the Todd Boehly consortium.



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