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Ratcliffe won’t pay “stupid” price for Man Utd as ownership race heats up

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The English businessman is among the main suitors to take over Man Utd.

Sir Jim Ratcliffe insists he will avoid taking too much risk in his bid to take over Manchester United.

The Glazer family are considering offers to sell the club, with Ratcliffe’s INEOS company emerging among the suitors. The English businessman faces stiff competition from Qatari banker Sheikh Jassim bin Hamad Al-Thani.

“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 Wall Street Journal on Monday.

“What you don’t want to do is pay stupid prices for things because then you regret it subsequently.”

Sources close to Man Utd have claimed INEOS representatives have had “impressive” progress in their negotiations with the Premier League club. However, a new report from Mirror claims their Qatari rivals are planning to make a record-breaking bid for Man Utd.

Sheikh Jassim could reportedly take over Man Utd by submitting a £5.5bn bid. As of now, INEOS has shown no interest in making such a massive offer.

US investment bank Raine will identify United’s new owners after reviewing the bids on behalf of the Glazers.