SIR JIM RATCLIFFE has released a statement confirming his Manchester United takeover bid, making two MAJOR vows on what he plans to achieve at Old Trafford.
The 70-year-old is determined to help the Red Devils win the Champions League and become the No1 club in the world.
Sir Jim launched his bid prior to last night’s deadline, and will go up against Qatari Sheikh Jassim Bin Hamad Al Thani.
His company INEOS have this morning released a statement, outlining their bid and their goals.
It read: “We can confirm that Sir Jim Ratcliffe and INEOS have submitted a bid for majority ownership of Manchester United Football Club.
“We would see our role as long-term custodians of Manchester United on behalf of the fans and the wider community.
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“We are ambitious and highly competitive and would want to invest in Manchester United to make them the number one club in the world once again.
“We also recognise that football governance in this country is at a crossroads.
“We would want to help in this next chapter, deepening the culture of English football by making the club a beacon for a modern, progressive, fan-centred approach to ownership.
“We want a Manchester United anchored in its proud history and roots in the North-West of England, putting the Manchester back into Manchester United and clearly focusing on winning the Champions League.”
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Ratcliffe has emerged as a popular choice to take over among fans.
Although a SunSport poll yesterday revealed that Sheikh Jassim’s £5bn bid is not far behind in popularity.
Having received Wall Street backing, a source close to INEOS chief Ratcliffe told the Telegraph: “His aim is to be a long-term custodian of Manchester United and set the standard for a progressive approach to club ownership.
“As locally born, he wants to put the Manchester back into Manchester United.”
Sheikh Jassim, meanwhile, is the son of former Qatari Prime Minister Hamad.
He has vowed to make the club debt free, while restoring them to “former glories”.
The Raine Group, the bank overseeing the sale, will determine the next step, following last night’s soft deadline.
This will involve putting together a shortlist of bidders, much like the one that was compiled during the process that saw Todd Boehly buy Chelsea last year.
The Glazer family stand to make around 40 TIMES what they paid for United.
Having purchased the club in a leveraged buy-out, the Glazers spent only around £150million on Man United, while receiving dividends over many years.
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They are now chasing £6bn for the club, but could sell for between £4bn-£5bn.
The Glazers will also pocket the money tax free, having relocated United HQ from Old Trafford to the Cayman Islands.
Source: Soccer - thesun.co.uk
