Britain’s richest man and Manchester United fan, Sir Jim Ratcliffe, is planning a bid for Manchester United, according to The Telegraph.
The Glazer family, owners of Manchester United, put the club up for sale on Tuesday.
Ratcliffe, the owner of Ineos, contacted the Glazers about buying Manchester United in the summer and still remains interested in buying the club.
Despite his interest in buying Manchester United, Ratcliffe is reportedly wary about overpaying as insiders suggest the Glazers are looking for a price comfortably in excess of £5 billion.
The Glazers are reportedly looking to sell Manchester United for as high as £9billion as they believe Manchester United is a club with enormous potential.
Ratcliffe is serious about buying Manchester United and has already done his due diligence on the Red Devils.
Ineos has a rule when launching takeovers that they expect investments to pay off or increase significantly in value after three years. Sources close to Ratcliffe says he always puts business logic before passion.
Ratcliffe tried to buy Chelsea from former owner Roman Abramovich but submitted his bid late as he was reportedly waiting for the price to drop.