Candidate for the takeover of Manchester United, British billionaire Jim Ratcliffe assured that he ruled out paying “crazy sums” to acquire the Premier League club.
The boss of the chemical group Ineos is currently one of the two interested parties, with the president of the Qatar Islamic Bank (QIB) Jassim Bin Hamad Al Thani, to have sent an official offer to buy the Mancunian club. The Glazers’ asking price is estimated at six billion dollars.
Jim Ratcliffe and his team spoke to Manchester United officials during a visit to Old Trafford stadium and Carrington training complex on Friday, a day after representatives from Sheikh Jassim visited. But in an interview with the Wall Street Journal, the 70-year-old billionaire said he would not pay an exorbitant price for the 20-time English champions.
You don’t have to pay to regret
«How do you decide on the price of a painting? How do you decide the price of a house? It has nothing to do with the cost of construction or painting“, he said. “What you shouldn’t do is pay crazy sums for things you regret later“, he underlined. Ratcliffe, who already owns French club Nice, said his interest in United would be “purely to win things“, calling the club “community asset», rather than a financial asset.
Media outlet Sky News claimed on Tuesday that Sheikh Jassim and Ratcliffe were preparing a second proposal ahead of Wednesday’s deadline, adding that a number of other parties could enter the bidding process.
US investment fund Elliott Investment Management has also reportedly gone through the second stage of the process, although the company is believed to be offering a financing plan to a prospective buyer rather than a formal takeover.