Sir Jim Ratcliffe issues statement on potential Man Utd takeover

The English business man has joined a tight bidding race to take over United.

Sir Jim Ratcliffe officially launches his bid to buy Manchester United, insisting on a “fan-centred” approach to club ownership.

The English businessman will compete against Sheikh Jassim bin Hamad bin Al Thani. The Qatari banker has vowed to reinvest all the profit under his stewardship back into the club.

The takeover will end the Glazer family’s 18-year spell in charge of Man Utd. Despite United’s debt rising to £514.9m during their ownership, this has not deterred potential buyers from entering the bidding race.

On Saturday, Ratcliffe’s company INEOS, who already owns Ligue 1 side Nice, confirmed the Manchester-born businessman is keen to buy Man Utd.

“We can confirm that Sir Jim Ratcliffe and INEOS have submitted a bid for majority ownership of Manchester United Football Club,” a statement read.

“We would see our role as the long-term custodians of Manchester United on behalf of the fans and the wider community.

“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 lead 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.”