Sir Jim Ratcliffe has outlined his vision for Manchester United - with a tantalising offer to give fans a stake in the club and a promise to make the Red Devils the best team in Europe.
Ratcliffe, the 70-year-old tycoon who is Britain’s richest individual with a personal fortune in excess of £21billion, joined the £6bn race to buy United from the Glazer family when he made his interest official on Friday night.
Born in Oldham and a United supporter all his life, he has started a charm offensive to win the hearts and minds of fans desperate to see the Glazers leave Old Trafford by hinting that he would give them an opportunity to buy shares and have an influence on how the club is run.
Ratcliffe confirmed he wants to buy a controlling share of United, suggesting that a significant part of the club will be made available to other investors and smaller shareholders. Sheikh Jassim bin Hamad Al Thani, the chairman of one of Qatar’s biggest banks and the son of the Arab nation’s controversial former prime minister, has also made his interest clear.
And it is understood that there is also interest in United from Saudi Arabia and the United States that is yet to be made public. Ratcliffe, who is chairman of multinational chemical giant INEOS, confirmed in a statement: “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.
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“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.”
The Glazer family wants in excess of £5bn to sell the club and will leave behind debts of more than £500million from their 18-year tenure. During that time, more than £1.5bn has been drained from United’s coffers by debt repayments and dividends, and the club’s iconic Old Trafford stadium is in need of an expensive upgrade.
United have not been Premier League champions since Sir Alex Ferguson retired almost a decade ago. They haven’t won a trophy for six years, although manager Erik ten Hag has guided them into next week’s EFL Cup final against Newcastle and the fight for a top-four finish.
Ratcliffe has previously tried to buy Chelsea and is owner of French club Nice and Switzerland’s Lausanne-Sport. He has put former GB cycling coach Sir Dave Brailsford in charge of INEOS’ sporting interests, despite the 58-year-old being caught up in the doping scandal that brought down Team Sky.
