January 18, according to a report in The Times, Sir Ratcliffe, the richest man in Britain, will participate in the bid to acquire Manchester United
In November last year, the Glazer family announced their intention to “explore new strategic options” for Manchester United, including the introduction of new investment, an overall sale or other possible plans. If sold, they hoped that the price could reach more than 5 billion pounds.
A consortium or institution interested in bidding for Manchester United must sign an agreement to view the club’s confidential financial documents and promise to cooperate with due diligence.
Formal bidding is expected to begin next month, and sources say it is too early to say whether a deal will be completed before the end of the season, though a key meeting on the deal will be held in London this week.
It is reported that buyers from the United States, the Middle East and other places are interested in acquiring Manchester United, but Ratcliffe is the first to publicly confirm that he will participate in the bidding. His spokesman said on January 17: “We have officially invested
to this process.”
Ratcliffe was a Manchester United fan in his youth and Forbes estimates his current net worth to be around £12.6bn.