Billionaire Ratcliffe does not want to pay a 'stupid' price for Man Utd
"What you don't want to do is pay a stupid price, because then you will regret it," Ratcliffe replied when asked by the Wall Street Journal about the Man Utd purchase on March 21. "How to value a painting? How to value a house? It has nothing to do with how much it costs to build or paint."
The richest man in England also confirmed that he wanted to buy Man Utd purely for the purpose of winning with the club. Besides, he considers "Red Devils" as a kind of property belonging to the community.
In the first bid, Ratcliffe and another investor, Qatari billionaire Sheikh Jassim Bin Hamad Al Thani, failed to meet the price of $7.36 billion that the current owner of Man Utd, the Glazer family, demanded. . They are likely to increase the price in the second bid, which is due on March 22.
According to Sky Sports sources, a number of other investors are also interested in the deal. Man Utd will probably receive up to eight offers on March 22.
If the offers still don't meet the requirements, the Glazers can terminate the outright sale. The current owner has an option to sell only a small amount of the shares and still retain control of the club.
On March 16, Sheikh Jassim's delegation arrived at Old Trafford and Carrington training ground. The purpose of this visit was to find out what they can do with investment in infrastructure, development of youth academy and the club's women's team. A day later, it was Ratcliffe's turn to meet directly with the Man Utd Board of Directors. The delegation wanted to analyze the information received before making a second offer.
According to Forbes, Ratcliffe is Britain's richest man with a fortune of $22.8 billion. This businessman is ranked 65th in the list of the richest people in the world. Through the episode INEOS, Ratcliffe owns a Ligue 1 club, Nice.
Sheikh Jassim is a member of the Royal Family of Qatar, and the son of former Prime Minister of Qatar, Hamad bin Jassim bin Jaber Al Thani. Sheikh Jassim is currently the President of the Islamic Bank of Qatar.
Man Utd is one of the biggest clubs in the world. "Red Devils" have won the English championship 20 times and won the C1/Champions League Cup three times. Under the guidance of coach Erik Ten Hag, Man Utd is reviving after nearly six years of nothing. Besides the newly won League Cup, they are aiming for the FA Cup, Europa League and Top 4 Premier League 2022-2023.
