British billionaire Sir Jim Ratcliffe has submitted an official bid to purchase Manchester United, according to a report by The Telegraph.
Reports of Ratcliffe submitting his offer to the Raine Group, who are handling the sale on behalf of the Glazers, arrived just hours after it was confirmed that Qatari banker Sheikh Jassim bin Hamad Al Thani had tabled his offer. The 'soft deadline' for interested parties to submit their bids was at 10pm on Friday night.
The Ratcliffe camp responded to Al Thani's offer by releasing confirmation of his own bid – reportedly telling the US-based Glazer family, who put United on the market back in November, that he wants to "put the Manchester back into Manchester United". Ratcliffe was born in Greater Manchester and has been one of the leading runners to buy the club in recent months.
READ MORE: Who is Sheikh Jassim bin Hamad Al Thani? The man behind the Qatari bid
It is reported that Ratcliffe, who is the owner of chemical giant Ineos, as well as French club OGC Nice, can be the 'long-term custodian for the club' after receiving Wall Street backing. Ratcliffe is a boyhood United supporter and confirmed he would be entering the bidding race last month.
A source close to 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."
At this stage, MEN Sport understands that current bids are only indicative and once bidders reach the next stage of the process they will enter a 'data room' where potential purchasers will be able to see the relevant financial information. This is the point where everyone will have to submit their bids, once they understand the value of assets and debts and other key financial information.
A full sale of the club is one of the options, although Avram and Joel Glazer have also considered buying out the shares of their other four siblings.
Though Ratcliffe has entered the bidding race, the offer from Qatar, which was confirmed shortly after 8pm on Friday evening, has attracted much of the attention, such is the level of detail set out in the statement from Al Thani.
It read: "Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club.
"The bid plans to return the Club to its former glories both on and off the pitch, and — above all — will seek to place the fans at the heart of Manchester United Football Club once more.
"The bid will be completely debt free via Sheikh Jassim's Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the Club supports.
"The vision of the bid is for Manchester United Football Club to be renowned for footballing excellence, and regarded as the greatest football club in the world. More details of the bid will be released, when appropriate, if and when the bid process develops."
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