July 6th 2023.
Britain's richest man, Sir Jim Ratcliffe, has insisted that Ineos are still in the running to buy Manchester United amid growing speculation that the Qatari bid is the favoured option of the Glazer family.
The takeover has been dragging on for seven months and is now a straight competition between Ratcliffe and Sheikh Jassim Bin Hamad Al Thani, with the latter tabling a fifth and supposedly final bid on June 7th.
The Qatari offer is reportedly worth around £6billion and is for a full buyout, while Ratcliffe's bid would see him purchase a majority stake. This would likely appeal to two of the Glazer siblings, Avram and Joel, who are keen to keep their shares.
Speaking at a book launch this week, Sir Jim provided an update on the ongoing process: "We can't say too much because of the NDA we have signed, but there's still a process and we're in it. We have a good offer and have had good conversations with the Glazers, but it's ultimately their decision. We'd still very much like to do it - we believe we would do a good job and do it for the right reasons."
When asked why he was so keen to buy the football club, Ratcliffe responded: "They ain't making them anymore. Manchester United and these types of clubs are like art, their value continues to pick up over time because they're so special and rare. I don't like throwing money away or losing it, but we aren't there to make money out of it. If it's a good asset it will increase its value over time."
Sir Jim also dismissed the idea of renaming Old Trafford, saying: "God no, that would be heresy." He then briefly mentioned that the rival Qatari bid would not have an unlimited budget, adding: "You can only spend the money that you receive. Obviously that wasn't always the case, for example with PSG and Manchester City."
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