November 24, 2022: David Beckham reported to be interested a consortium, while United sale could damage chances of buyer emerging for Liverpool
Sir Jim Ratcliffe is planning a bid for Manchester United after the Glazers formally put the club on the market, Telegraph Sport can reveal.
Ratcliffe, one of Britain’s richest men and a United fan, had been the first billionaire to declare interest in buying the club in the summer, when rumours of a potential sale first surfaced.
The owner of Ineos, the petrochemicals giant, is now expected to table a fresh approach although he is wary about overpaying as insiders suggest the Glazers are looking for a price comfortably in excess of £5 billion.
Ratcliffe previously contacted the Glazers in August but concluded at the time that a deal appeared unlikely. He also has experience dealing with Raine Group, the brokers who had been handling the offers process for Chelsea and have been instructed by United.
There is believed to be some concern that Raine may be pushing for a price beyond United’s natural value. Telegraph Sport understands that Ratcliffe’s failed bid to buy Chelsea over the summer was late because he had been waiting for the price to drop.
There have been estimates in recent months that the Glazers – whose ownership has seen gradual decline on the pitch and triggered mass protests by fans – could seek as much as £8 billion or £9 billion for United but sources would only say: “This is a club that has enormous potential”.
It comes as David Beckham is understood to be interested in joining a consortium to buy the club. There has been no approach in the last 24 hours, although there have been preliminary talks in the past that have not led anywhere.
However, Ratcliffe’s renewed interest in buying United, having supported them since boyhood and attended the 1999 Champions League final, is said to be serious. His business empire will have already done due diligence on the club. Ineos has a rule when launching takeovers that they expect investments to pay off or increase significantly in value after three years. Sources close to Ratcliffe says he always puts business logic before passion.
United were the only club who could change the mind of Ratcliffe, who hails from Oldham, after his company told Telegraph Sport earlier this month it was focusing on investments at OGC Nice.
Taking over Manchester United would not necessarily mean Ineos would have to sell the French club, which has signed several English players in recent months. However, they would not be allowed to play against each other in Europe under Uefa rules. Ineos has invested in F1 and cycling, while their football clubs also include Lausanne in Switzerland.
Ratcliffe’s previous interest
Ratcliffe had first said in August that his Ineos group would have been interested in the Glazers-owned club should it come up for sale.
Speaking at an FT conference in October, Ratcliffe said he had been told that United were not for sale. “I met with Joel and Avram, and they are the nicest people, and they don’t want to sell it,” he added. “If it had been for sale in the summer, yes, we would probably have had a go, following on from the Chelsea thing. But we can’t sit around hoping one day Manchester United will become available.”
Other well placed sources told Telegraph Sport, however, that the owners have been actively exploring the potential sale of United since the summer. United’s share price increased for a second day on Wednesday and it is anticipated that some of the parties who bid for Chelsea could come to the table.
United released a statement on Tuesday night announcing that the Glazers were seeking new investment either through a partial or full sale of the club, raising the prospect of the Americans ending their controversial 17-year ownership.
Sources said that, while all avenues would be explored and the Glazers were open to minority investment if it represented the right strategic partnership and value, there would be reluctance to relinquish control of the club without a full sale. The family have been majority shareholders of Manchester United since 2005, and Joel and Avram Glazer are co-chairmen of the club.
United or Liverpool: potential buyers have options
Although the news comes barely a fortnight since it emerged that Fenway Sports Group – fellow architects in the failed European Super League plot last year, were looking to offload Liverpool, the Glazers have been looking into a sale of United for months. “I would say this goes back to the summer,” one source said, adding that news of United’s availability could put a “spike” in the Liverpool process.
United and Liverpool’s most common battleground has been on the pitch. But now the battle is in the boardroom, with news that their respective owners are looking at a potential sale putting the two most successful clubs in English football history in direct competition as they bid to flush out investors.
Sources close to Qatar Sports Investments, meanwhile, have categorically ruled out any interest in United, telling Telegraph Sport that long-term commitments remain at European rivals PSG.
The American billionaires Josh Harris and David Blitzer, owners of the Philadelphia 76ers NBA franchise and minority shareholders in Crystal Palace, and the Ricketts family, which owns the Chicago Cubs Major League Baseball outfit, were among those who bid for Chelsea.
