The richest man in England asked to buy Man Utd

Mr. Ratcliffe sent an offer to Man Utd owners, after Qatar investors offered $ 5.4 billion for the "Red Devils". Sheikh Jassim Bin Hamad Al Thani, Chairman of the Islamic Bank of Qatar, represents investors in this Gulf state to negotiate the acquisition of Man Utd. The price Mr. Ratcliffe sent to the Glazers has not been disclosed. According to Sports Mail, he has hired experts at investment banks JP Morgan and Goldman Sachs to value Man Utd.

Jim Ratcliffe, Chairman and CEO of chemical company INEOS is considered the richest man in the UK with a fortune of $11.8 billion. Ratcliffe has always asserted that he has been a fan of the Red Devils since childhood. The 70-year-old billionaire owns the cycling team INEOS, the French team Nice, as well as the Lausanne-Sport club in the Swiss league. Last year, he asked to buy Chelsea but failed.

Ratcliffe and Al Thani are two candidates competing to own Man Utd. The offers to buy the 20-time British champion team were sent before 22:00 on February 17, London time. This is a deadline set by Raine Group, the New York-based investment bank tasked with overseeing the process of selling the club, or attracting new investment. Man Utd officials hope the deal to buy Man Utd will be completed in March.

While Al Thani claims the Qatari investors' plan is to bring Man Utd back to the top on and off the pitch, Ratcliffe also says he will put Man Utd back to where it once was. "I am a lifelong fan of Man Utd," said the British billionaire. "The 1999 Champions League final in Barcelona is still etched in my mind. The Glazers don't want to sell the team, but I can't sit still and wait for the day Man Utd is up for sale."

The asking price for the Glazers is at least £6 billion ($7.2 billion). The Qatar side only accepts to pay 75% of the above amount, but commits to pay it in one installment. They are also willing to spend significant sums to redevelop Old Trafford, or tear down this iconic stadium to build a new modern facility.