January 17, (THEWILL) – In a major development, Sir Jim Ratcliffe, owner of INEOS, has formally entered the race to purchase Manchester United. This comes after the Glazer family, current owners of the club, confirmed that they are open to selling the team.
Ratcliffe, a native of Greater Manchester, has a strong track record in sports team ownership. He is listed 27th on the 2022 Sunday Times Rich List with a net worth of over £6 billion ($7.4bn) and is the founder and CEO of INEOS, a chemical company that sponsors the Mercedes AMG Formula One team and owns the INEOS Grenadiers cycling team.
He also owns Ligue 1 side Nice and attempted to purchase Chelsea in 2022 after the club was put up for sale by Roman Abramovich, as THEWILL reported. A spokesperson for Ratcliffe said the INEOS owner has “formally put ourselves into the process” of buying Manchester United.
However, he is not the only potential buyer, as bids are expected from the United States, the Middle East, and Asia. All of them are desirous to beat the mid-February deadline for the submission of formal proposals.
Manchester United fans cannot wait for the Glazer family to finally leave the club and Ratcliffe’s formal entry into the race means the future of Manchester United could be in good hands if he takes over.