Prospective Manchester United owner Jim Ratcliffe has stated that he will not pay a “stupid” sum for the Premier League giants, as additional suitors are anticipated to enter the hunt for Old Trafford club.
The billionaire INEOS chief executive, who is Britain’s richest man, is one of two bidders who have openly revealed their intentions to Raine, the merchant bank hired to help the club in evaluating offers.
Sheikh Jassim Bin Hamad Al Thani, a Qatari banker, is the other party interred in the Red Devils.
The Glazer family, United’s current owners, said in November that they were conducting a strategic review, with the sale of the club being one option under consideration.
The Americans are thought to be seeking for $6 billion.
Ratcliffe, the chairman of INEOS, and his staff met with the club on Friday during a visit to Old Trafford and the Carrington training centre, a day after Sheikh Jassim’s representatives visited United.
But, in an interview with the Wall Street Journal, Ratcliffe, 70, stated that he would not pay over the odds for the 20-time English champions.
Sir Jim Ratcliffe comments on paying excessive sum to own Man United
The Glazer family has consistently stated that their asking price for Manchester United is £6 billion. If they receive a satisfactory offer, it is envisaged that a takeover can be completed before the summer.
On this note, the British billionaire said, “How do you decide the price of a painting?” he said. “How do you decide the price of a house? It’s not related to how much it cost to build or how much it cost to paint.
“What you don’t want to do is pay stupid prices for things because then you regret it subsequently.”
Ratcliffe, who also owns Nice in France, stated that his interest in United would be “purely in winning things,” referring to the club as a “community asset” rather than a financial one.
Sky News reported on Tuesday that Sheikh Jassim and Ratcliffe were drafting second proposals for a Wednesday deadline, and that a number of other companies could enter the bidding process.
Elliott Investment Management is also said to have advanced to the next round of the process, albeit the business is thought to be proposing finance rather than a takeover.