Earlier this week, Sir Jim Ratcliffe confirmed his interest in buying Manchester United.
The INEOS founder 'formally' put his name into the hat for any upcoming sale of the club, following a November statement from the current owners, the Glazer family, admitting they were set to 'explore strategic alternatives'.
News of Ratcliffe's interest in United will be a welcome relief to supporters following a long period of stagnation and decline under the Glazers, who have become a source of huge frustration for their failure to invest in the club. But any changing of hands is in its infancy.
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On Wednesday afternoon, Business Live published an explanation of the current situation regarding Ratcliffe's interest and the wider picture of United's sale. MEN Sport have taken a look at some of the key points.
The Glazers' decision to welcome investment was well-documented back in November, with many fans hopeful their choice of words - 'explore strategic alternatives' - hinted at a full sale. But after nearly two decades at the helm, why have they made that decision now?
The report points to Fenway Sports Group and their decision to welcome investment at Liverpool, saying: "It comes at a time when the failure of both the European Super League and Project Big Picture thwarted attempts by the so-called big clubs to take greater control over football.
"And with Newcastle forcing their way into the competition for the limited number of Champions League places after their Saudi-backed takeover, plus the price paid last year for Chelsea, both the Glazers and FSG appear to think now is the time to cash in."
In terms of a timescale for the process of changing hands, the expectancy is that Raine Group - the investment bank handling proceedings - will keep things ticking over as quickly as possible.
"Prospective investors need to demonstrate seriousness in a swift process, leading to suggestions that United could even be under new ownership by the end of the 2022-23 season," the report adds.
After Ratcliffe made his interest known, a number of competitors are expected to follow suit.
"As well as Ratcliffe’s interest, bids are expected from the Middle East, Asia and the United States," Business Live have reported. "Avram Glazer reportedly spoke to potential investors in Qatar during the World Cup and United currently have a pop-up shop in Davos during this week’s World Economic Forum annual meeting."
They added: "After [Todd] Boehly and his group paid £2.5bn for Chelsea last year, there has been a rapid recalculation of what the Premier League’s top clubs might be worth.
"Football finance expert Kieran Maguire has said that, based on a comparison with Chelsea’s revenues, profitability and assets, United would be worth around £4-4.5bn, with a reasonable expectation that a possible bidding war would push the price up to £5bn."
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