Jim Ratcliffe faces challenges from four other 'serious bidders' in race to buy Man Utd

There's as many as five interested parties readying to battle it out to buy Manchester United with the deadline approaching for offers to be submitted, according to reports

Posted Monday, February 13, 2023 by Dailystar.co.uk

There could be a Manchester United bidding war involving Sir Jim Ratcliffe

Sir Jim Ratcliffe is reportedly one of five serious contenders in the race to buy Manchester United.

Britain's richest man and the founder of chemicals company INEOS became a frontrunner when he put his hat in the ring for the Red Devils last month. There's considerable interest from around the globe to do business with the Glazers, however.

And according to the Daily Mail, a quintet of bidders are set to compete in the coming weeks, with a deadline of next Friday (February 17) for offers to be made. A group of Qatari billionaires are one interested party who will vie with Ratcliffe.

There's also said to be interest from the United States, although that may prove unpopular amongst the United fanbase given how the Glazer family's reign has gone, with tech giant Apple having been mentioned.

Multiple groups from Saudi Arabia have been in touch too, signing the confidentiality agreements which allow access to United’s financials. It remains to be seen if any will make a formal offer, though.

Ratcliffe, 70, has reportedly hired Wall Street giants JP Morgan and Goldman Sachs to help with his bid. He's believed to have a net worth in the region of $13billion (£10.7bn).

But that pales in comparison to the fortune behind the Qataris, who are headed by Sheikh Tamim bin Hamad Al Thani, the Emir of the Gulf nation.

He alone is estimated to be worth $335bn (£277bn), which is why they are confident of blowing rival bids out of the water. The Glazers have an asking price of roughly £6bn.

They may yet not sell given they announced they were open to "exploring strategic alternatives", including investment, in November. But a takeover remains the likeliest outcome.