Man United sale: Jim Ratcliffe says he's submitted second bid
Businessman Jim Ratcliffe leaves Old Trafford, in Manchester, England, Friday March 17, 2023. Bidders are getting a closer look at Manchester United as the potential sale of one of the biggest soccer clubs in the world gathers pace. (Peter Byrne/PA via AP)

MANCHESTER, England (AP) — The proposed sale of Manchester United gathered pace Thursday when British billionaire Jim Ratcliffe said he had submitted a second bid for the iconic football team.

American merchant bank Raine had given bidders more time to fine-tune proposals by extending Wednesday night's deadline for the latest round of offers for the Premier League club.

"Sir Jim Ratcliffe and INEOS can confirm we have submitted a revised bid," INEOS said Thursday.

Ratcliffe is one of the richest people in Britain and has been a United fan since childhood.

Sheikh Jassim bin Hamad Al Thani is also set to submit a fresh offer and appears to be the main rival to Ratcliffe in the battle to take charge of the 20-time English league champions.

Current owners the Glazer family announced in November that they were exploring "strategic alternatives," which included the possibility of a full sale of the club they have owned since 2005.

Raine is handling the potential sale after brokering the deal that saw Todd Boehly and Clearlake Capital buy Chelsea for about $3 billion last year.

United is expected to become the most expensive sports team in history, with the price expected to be as high as $6 billion.

The Denver Broncos were sold last year to Walmart heir Rob Walton and his daughter and son-in-law for a record $4.65 billion.

Sheikh Jassim is the chairman of Qatar Islamic Bank and the son of a former prime minister.

He plans to buy 100 per cent of the club, while Ratcliffe's bid is for the Glazers' share of around 69 per cent.

It also emerged on Thursday that American investment firm Elliott Management bid for a minority stake.

A person with knowledge of the process confirmed the bid. The person spoke on the condition of anonymity because they were not authorised to comment publicly.

Elliott, which formerly owned Italian club AC Milan, is also prepared to offer capital or finance to other bidders.

Now you can read the Jamaica Observer ePaper anytime, anywhere. The Jamaica Observer ePaper is available to you at home or at work, and is the same edition as the printed copy available at


  1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper; email addresses will not be published.
  2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.
  3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.
  4. Please do not write in block capitals since this makes your comment hard to read.
  5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed:
  6. If readers wish to report offensive comments, suggest a correction or share a story then please email:
  7. Lastly, read our Terms and Conditions and Privacy Policy

Which long-term investment option is more attractive to you at the moment?