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Sir Jim Ratcliffe has taken new steps in his plan to buy Manchester United from the Glazer family by bringing Goldman Sachs and JP Morgan on board to assist with a takeover bid.
The British billionaire, Jim Ratcliffe, whose INEOS group already owns French club OGC Nice, is among a number of interested parties hoping to assume control at Old Trafford.
Ratcliffe accelerating takeover plans
After 18 years of ownership, the extremely unpopular Glazer family stated their position in November last year, confirming that a potential sale was something they were open to.
Ratcliffe, having previously been knocked back with a takeover enquiry, was the first suitor to go public with his interest when a spokesperson made a statement on his behalf last month.
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American financial media organisation Bloomberg has reported that Ratcliffe will have Goldman Sachs and JP Morgan conduct feasibility studies into a possible takeover. The banks would also back his bid with bonds and loans covering the value of United’s existing £659m debt.
There is thought to be a ‘soft deadline’ for bidders on 17 February and Ratclifffe will not be alone in the process. It has been reported that a Qatari consortium is actively preparing a takeover bid.
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One of Britain’s richest people, Sir Jim Ratcliffe, has confirmed that his company is in the running to buy Manchester United from the Glazer family.
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