Jim Ratcliffe and INEOS enter formal bidding process to buy Manchester United

Sir Jim Ratcliffe, chairman of INEOS, will enter the bidding race for Manchester United after previously stating his desire to be involved with the club. 

Times Sport has reported this afternoon that INEOS has formally entered the bidding process to buy the club. The company also owns Ligue 1 side OGC Nice.

Bids are expected imminently from the United States, Asia and the Middle East and now that Ratcliffe has made his plans clear, other parties are likely to go public with their offers. A spokesperson for INEOS stated: “We have formally put ourselves into the process.”

Ratcliffe is a boyhood Red

The 70-year-old is a boyhood Red Devils fan and will likely hold the club’s best interests at heart, having followed and supported United for decades. According to Forbes, his net worth is around $15.5 billion.

The Glazers are hoping to receive more than £5 million for a full takeover. All interested parties have been advised to register their offers by a deadline of mid-February, meaning a full transfer of ownership could happen by the end of the 2022/2023 campaign.

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