Sir Jim Ratcliffe, Great Britain’s richest man and head of INEOS corporation, has now officially entered the race to buy Manchester United.
A life-long fan of the club, with an estimated net worth of £9.8 billion, is the first potential suitor to formally express their interest to buy the club from the Glazer family.
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“We have formally put ourselves into the process,” a spokesman for Ratcliffe said today.
The Glazers, who have owned the club since 2005, and are constantly a source of supporter scorn, are reportedly seeking £6bn ($7.25bn) for their prized asset, hoping to break the world record for the sale of a sports franchise.
The first step in the process is registering interest with Raine Group, the investment bank that is brokering the sale of the club. This opens the exploratory process for prospective buyers, with official bidding expected to start next month.
If all goes according to plan, the team could change hands by spring. A Glazer sale of the club would be good, manager Erik ten Hag has publicly said so.
If/when that happens, expect a whole lot of rejoicing from the United supporter base. There are many sports team owners, all around the world, who are detested by their own club’s fans.
However, the Glazers seem to be on another level with that.
Paul M. Banks is the owner/manager of The Sports Bank. He’s also the author of “Transatlantic Passage: How the English Premier League Redefined Soccer in America,” and “No, I Can’t Get You Free Tickets: Lessons Learned From a Life in the Sports Media Industry.”
He’s written for numerous publications, including the New York Daily News, Sports Illustrated and the Chicago Tribune. He regularly appears on NTD News and WGN News Now. Follow the website on Twitter and Instagram.