Man Utd takeover: Ratcliffe gives update on bid to buy Red Devils amid claims Qatar offer is favoured
Sir Jim Ratcliffe would “still very much like” to buy Man Utd despite claims that Qatar’s Sheikh Jassim’s bid is preferred by the Glazers.
Man United’s owners, the Glazer family, are weighing up offers for the club from Qatari banker Sheikh Jassim and Ratcliffe, the founder of chemicals firm Ineos.
The Glazers first indicated they could sell Man Utd by initiating a strategic review last November but the bidding process has dragged on.
Reports have suggested Sheikh Jassim’s bid – which is for 100 per cent of the club – is now the most likely to be accepted. Sources close to the Qatari bid have indicated their eagerness to close the deal, with the summer transfer window now open.
A report yesterday in Qatar claimed that a purchase agreement could be signed by the Glazers ‘within the next few hours’ to give Sheikh Jassim control of the club.
However, contrary to that, The Guardian wrote that the Qatari banker is ‘increasingly uncertain’ that the Glazers ‘still plan to sell’ Man Utd.
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Mason Mount became their first summer signing yesterday but fans have become uneasy with the length of time it is taking to get a deal to sell the club over the line.
Speaking at a book launch this week, Ratcliffe gave an update on his bid, he said: “We obviously can’t say too much because we’ve signed an NDA and we respect that but there’s still a process and we’re in the process.
“We have a good offer – we’ve met the Glazers a couple of times and we had a good conversation but at the end of the day it’s their decision… we would still very much like to do it.
“I also believe we would do a good job and do it for the right reasons. We keep very focused on it.”
When asked why he is so keen to buy Man Utd, Ratcliffe added: “They ain’t making them any more. Manchester United and these type of clubs, it’s like art or areas like that.
“When you have special things and their value continues to pick up over time because they are very special and rare.
“I don’t like throwing money away or losing money.
“It doesn’t make me happy at all. But we aren’t there to make money out of it. If it’s a really good asset it will increase it’s value over time.”
When asked if he might consider renaming Old Trafford if he took over, Ratcliffe replied: “God no, that would be heresy.”
Ratcliffe insisted that Man Utd would not have a blank cheque book to sign players if the Qatari bid was successful, he continued: “You can only spend the money that you receive. Obviously that wasn’t always the case, for example with PSG and Manchester City.”