Man Utd takeover: Sir Jim Ratcliffe refusing to pay ‘stupid price’ to oust the Glazer family
Sir Jim Ratcliffe has made it clear that he is unwilling to pay a “stupid price” to buy out the Glazer family to become the new owner of Man Utd.
The INEOS chief is among the leading contenders to buy Man Utd from the Glazer family. The club was put up for sale last November as the current owners stated that they would “evaluate all options”.
Ratcliffe is battling with Qatar-based businessman Sheikh Jassim. Both parties were invited to Old Trafford for separate meetings last week.
Sheikh Jassim was not present himself on Thursday, while Ratcliffe opted to show his face a day later.
It has since been reported that both parties will make their second bids to purchase Man Utd later this week.
The Glazer family have consistently maintained that their asking price for Man Utd is £6bn. It is hoped that a takeover can be finalised before the summer if they receive a satisfactory offer.
Sheikh Jassim could well be the frontrunner as Ratcliffe has admitted in a new interview that he does not want to “regret” paying a “stupid price” for Man Utd.
“How do you decide the price of a painting? 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,” Ratcliffe told The Wall Street Journal (via The Telegraph).
“What you don’t want to do is pay stupid prices for things because then you regret it subsequently.”
He added: “Our interest in that club would be purely in winning things.”
Ratcliffe also admitted that his attempt to buy Man Utd differs from his other investments.
“That in a sense goes without saying, because sport is emotional.”
Sky Sports reporter Kaveh Solhekol has been discussing how Sheikh Jassim and Ratcliffe approached last week’s meetings.
He suggested that these meetings “give you another sense that the Glazers are serious about selling”.
“It’s an interesting contrast with Sheikh Jassim. Sir Jim was happy to be filmed and photographed, and it was significant that [Man Utd CEO] Richard Arnold was there to greet him when he arrived, shaking his hand and being photographed then too,” Solhekol told Sky Sports.
“It gives you another sense that maybe the Glazers are serious about selling Man Utd.
“This was a high-powered delegation from INEOS, he was there with the two co-owners, Andy Currie and John Reece. Sir Dave Brailsford, who used to be the director of cycling at Team Sky – he’s now INEOS’ director of sport and he was there too.”
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