After the deadline was extended, INEOS and Sir Jim Ratcliffe confirmed their second bid for Man United. Sir Jim Ratcliffe’s INEOS has acknowledged making a second offer to purchase Manchester United.
The deadline for interested parties to make their secondary proposals for the Premier League giants was set as Wednesday night.
Ratcliffe and Sheikh Jassim Bin Al Thani, the only two investors to officially proclaim their interest in purchasing the club, however, asked for the deadline to be extended.
With a brief statement reading, “Sir Ratcliffe and INEOS can confirm that we have filed a revised proposal,” INEOS and Ratcliffe announced on Thursday night that they had submitted their new bid, which is estimated to be valued at roughly £5 billion.
Ratcliffe, who already owns the French club Nice and made an offer to purchase Chelsea in 2022, which ultimately failed, paid a visit to Old Trafford last week.
The 70-year-old is a lifelong supporter of Manchester United and was born nearby. He has an estimated personal fortune of £6 billion, making him one of the wealthiest persons in Britain.
Within the following 24 hours, the Qatari faction, chaired by Sheikh Jassim, is anticipated to present its updated offer.
Since the process began, the Glazer family who currently own Manchester United, have set a £6 billion sale price for the team.
Additionally, they are rumoured to favour minority share sales over a full takeover of the club.