Billionaire and Manchester United fan Sir Jim Ratcliffe is ready to bid for Manchester United in the coming weeks after it emerged that the Glazers had put the club up for sale in the wake of Cristiano Ronaldo’s departure on Tuesday.
“Manchester United plc (NYSE:MANU), one of the most successful and historic sports clubs in the world, announces today that the Company’s Board of Directors (the “Board”) is commencing a process to explore strategic alternatives for the club”, the club wrote in a statement.
“As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company”, they added, with multiple reports claiming that their unpopular reign at the club’s helm was finally set to come to an end.
And the Telegraph report that Ratcliffe, whose attempts to buy the club over the summer were rebuffed, is readying a bid to take control of his favoured side, in an attempt to restore them to their past glories.
Ratcliffe has previously tabled a bid to buy Chelsea when the London club became available earlier in the year, though was ultimately unsuccessful, but remains keen to tap into the football market.
However, it is added that he will not be held to ransom, with the Glazers thought to be holding out for over £5bn to part ways with the Red Devils, almost a billion pounds more than Chelsea FC ended up selling for in May.
It would represent a massive upturn for the Glazers, who paid just £790m to acquire the club in 2005, but there is concern that their demands could scare away potential buyers due to their inflated nature.