INEOS has announced that British billionaire Sir Jim Ratcliffe has tabled an official bid to secure 'majority ownership' of Manchester United.
The chemical giant, who currently owns French club OGC Nice, among other assets, released a statement shortly after midday on Saturday to confirm that Ratcliffe had submitted an official offer. The 'soft deadline' for prospective buyers to submit their offers to the Raine Group, who are overseeing the sale of United on behalf of the Glazers, was 10pm on Friday evening.
Just under two hours before that deadline, it was confirmed that Qatari banker Sheikh Jassim bin Hamad Al Thani had submitted a bid. Al Thani is the chairman of one of Qatar's biggest banks - Qatar Islamic Bank - and has plans to gain full control of the club.
READ MORE: What happens next in United takeover process after bids confirmed
INEOS, on behalf of Ratcliffe, have responded with a statement confirming their own bid, announcing that they have submitted an offer to secure 'majority ownership'.
The statement said: "We can confirm that Sir Jim Ratcliffe and INEOS have submitted a bid for majority ownership of Manchester United Football Club.
"We would see our role as the long-term custodians of Manchester United on behalf of the fans and the wider community.
"We are ambitious and highly competitive and would want to invest in Manchester United to make them the number one club in the world once again. We also recognise that football governance in this country is at a crossroads.
"We would want to help lead this next chapter, deepening the culture of English football by making the club a beacon for a modern, progressive, fan-centred approach to ownership.
"We want a Manchester United anchored in its proud history and roots in the North-West of England, putting the Manchester back into Manchester United and clearly focusing on winning the Champions League."
Ratcliffe is a boyhood United supporter and has been linked with a takeover at Old Trafford for several months, although he played down the prospect of it ever happening during an interview last year, in which he addressed his failed attempt to buy Chelsea. The 70-year-old is best known for being the owner of the chemical company INEOS, with his net worth making him one of the richest people on the planet.
But just how much is he worth?
How much is Sir Jim Ratcliffe worth?
There are varying reports on just how much Ratcliffe is worth. However, the good news for United supporters is that he has enough financial clout to, hopefully, bring the good times back to Old Trafford.
Bloomberg's billionaire index has him listed with a net worth of $13.6billion, roughly £11.3bn. Meanwhile, The Sunday Times 'Rich List' in 2022 estimated Ratcliffe's personal fortune at £6.1bn.
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