Britain’s richest man Sir Jim Ratcliffe SUBMITS bid for Man Utd after Qataris offered £5bn to buy club from Glazers
SIR Jim Ratcliffe has confirmed his rival bid for Manchester United.
Britain’s richest man put in an offer following a £5billion approach from Sheikh Jassim Bin Hamad Al Thani, the head of Qatar’s biggest bank.
AFPSir Jim Ratcliffe is behind a rival approach to buy out the Glazers[/caption]
United fan Ratcliffe has reportedly told the global bank overseeing bids to buy out the Glazers that he wants ownership for the long haul.
He added he he has got Wall Street backing.
A source close to his company Ineos told The Telegraph: “His aim is to be a long-term custodian of Manchester United and set the standard for a progressive approach to club ownership.
“As locally born, he wants to put the Manchester back into Manchester United.”
The club’s current owners, the Glazers, supposedly want as much as £8bn.
Ratcliffe, 70, is worth £15billion, having made his money via chemicals firm Ineos.
But an offer from Qatar came in first.
Sheikh Jassim, whose father Hamad is a former Prime Minister of the country, wants full control of United.
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He promised to make the club debt-free and vowed to “return the club to its former glories”.
The next step in the buy-out saga is down to the Raine Group – the bank conducting negotiations over any sale.
That could mean putting together a shortlist of bidders – similar to when Chelsea went up for sale last summer.
