Sir Jim Ratcliffe won’t pay ‘stupid’ price for Man United
Prospective Manchester United proprietor Jim Ratcliffe says he will no longer pay a “stupid” fee for the Premier League giants, with extra bidders anticipated to enter the race to take over at Old Trafford.
The British billionaire is one of two fascinated events to have publicly introduced their bids to Raine, the service provider financial institution introduced in to aid the membership in assessing offers.
Qatar banker Sheikh Jassim Bin Hamad Al Thani is the other.
United’s unpopular owners, the Glazer family, introduced in November they have been conducting a strategic review, with the sale of the membership one alternative being considered.
The Americans’ asking price is believed to be $6 billion.
Ratcliffe, chairman of chemicals giant INEOS, and his team held talks with the club on Friday during a visit to Old Trafford and the Carrington training complex, a day after Sheikh Jassim’s representatives visited United.
But in an interview with the Wall Street Journal, the 70-year-old Ratcliffe said he would not pay over the odds for the 20-time English champions.
“How do you decide the price of a painting?” he said.
“How do you decide the price of a house? It’s not related to how much it cost to build or how much it cost to paint.”What you don’t want to do is pay stupid prices for things because then you regret it subsequently.”
Ratcliffe, who already owns French club Nice, said his interest in United would be “purely in winning things”, calling the club a “community asset”, rather than a financial one.
Sky News said Tuesday that Sheikh Jassim and Ratcliffe were understood to be preparing second bids before a Wednesday deadline for second offers, adding that a number of other parties could enter the bidding process.
Elliott Investment Management has also reportedly made it through to the second stage of the process, although the firm is believed to be offering funding rather than a takeover. – AFP
Sir Jim Ratcliffe won’t pay ‘stupid’ price for Man United
