Sir Jim Ratcliffe is determined to complete a takeover of Manchester United appears to be taking a completely different approach to his unsuccessful attempt to buy Chelsea.
The INEOS chairman became the first party to publicly announce his intention to table a bid to the Glazer family following their announcement that they could entertain a sale of the Red Devils. The club’s owners confirmed in November that they were "commencing a process to explore strategic alternatives for the club".
It remains to be seen exactly what that means for United's long-term future, but it could include further external investment or indeed a full sale. On Tuesday, a spokesperson on behalf of Ratcliffe confirmed to The Times : "We have formally put ourselves into the process."
Any takeover remains some way off, although cogs are beginning to move. Away from Ratcliffe’s intention, there is reportedly interest from Asia, the Middle East and America in a potential deal. The Glazer family have slapped a price tag in excess of £5billion on the Red Devils.
Ratcliffe’s move is significant and represents a huge difference from his previous attempts to buy a Premier League club. He was linked with a move for Chelsea before Todd Boehly wrested control of the Blues last year.
Ratcliffe, 70, was unsuccessful partly because he was the last of numerous bidders to arrive at the negotiating table for a Chelsea takeover. Revealing the reasons why his bid was so delayed, Ratcliffe said: "I think that is quite simple - it is a big decision to buy a national asset and it's a big commitment in terms of time and money.
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"We're there for the long term that's a lot of responsibility to take on and it takes time to reach a decision to be fully committed. We got there at the end of the day and we are committed. We're not giving up."
It appears that Ratcliffe is determined not to make the same mistake twice, having expressed his intention for the Red Devils before any other parties - a notable turn of events considering he could be spending roughly £1bn more to complete a takeover at Old Trafford. Whether Ratcliffe’s early declaration leads to him becoming the new owner of United remains to be seen but it looks likely to stand him in good stead going forward.
Any deal would bring to an end the Glazers' contentions ownership of the Red Devils. Having become majority shareholders in 2005, the Americans have been met with numerous fan protests since.
It was suggested in their original statement that a takeover, or indeed further investment, was far from guaranteed. "There can be no assurance that the review being undertaken will result in any transaction involving the Company," the statement read.
"Manchester United does not intend to make further announcements regarding the review unless and until the Board has approved a specific transaction or other course of action requiring a formal announcement."
