March 21, (THEWILL) – British billionaire, Jim Ratcliffe, has made it clear that he will not pay “stupid prices” for Manchester United, as the deadline for the latest round of bids looms.
The Glazer family, the incumbent owners of the football club, tentatively put United up for sale in November, with Ratcliffe and Qatari banker, Sheikh Jassim bin Hamad Al Thani, among the interested parties to formally register. Although the exact value of the bids is unclear, the Glazers are reportedly looking for at least £5.9 billion ($7.2 billion) if they are to sell, which would set a new world record fee for a sports team.
Recent reports have suggested that the bidders are growing more confident that the Glazers will approve a sale, with Ratcliffe and Sheikh Jassim expected to submit formal offers this week. However, Ratcliffe has given the strongest indication yet that he will not overpay.
Speaking about the process recently, Ratcliffe stated: “What you don’t want to do is pay stupid prices for things because then you regret it subsequently.” Ratcliffe is a lifelong United fan and was spotted at Old Trafford last Friday following a meeting with club officials. The second deadline for offers is set for Wednesday, with up to eight official bids expected.
Meanwhile, associates of Sheikh Jassim are said to have been in Manchester the day before, although he was not present. The fate of one of the world’s most famous football clubs remains unclear, with multiple parties vying for ownership and the Glazer family looking for a big payout.
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
