Wednesday, August 17, 2022

manchester united: Billionaire Ratcliffe wants to buy stake in Manchester United

British billionaire Jim Ratcliffe is interested in buying Manchester United, his spokesman told The Times on Wednesday, with Elon Musk saying his plan to buy the Premier League club was part of a “long-running joke”.

Musk, the world’s richest man, said on Twitter that he wanted to buy England’s most successful club, before clarifying that it was a joke and that he was not interested in buying any sports teams.

The club’s owners, the American Glazer family, are under pressure from United to sit at the bottom of the Premier League after two games of the season. Bloomberg reported that they would consider selling a minority stake, opening the door for Ratcliffe.

“If the club is for sale, Jim is certainly a potential buyer,” Ratcliffe’s spokesman said. “If something like this were possible, we would be interested in talking in terms of long-term ownership.”

The Glazers have been the target of intense criticism for their failure to invest in a team that has not won the trophy in five years.

Ratcliffe, head of the chemical company INEOS, hails from the Manchester area and is a longtime fan of the club.

“It’s not about money that has been spent or not spent. Jim is looking at what can be done now and knowing how important the club is to City, it seems that the reset is not going to happen. The time is right for it.” added.

Ratcliffe failed this year in an attempt to buy London club Chelsea, which was eventually bought by an investment group led by Todd Boehley and Clearlake Capital.

Originally published at Pen 18

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