INEOS Offers Over £5 Billion to Purchase Manchester United

According to a report by "The Times," citing sources on Saturday, the offer from INEOS, owned by billionaire Jim Ratcliffe, may surpass the Qatari bid led by Sheikh Jassim bin Hamad Al Thani in the race to acquire Manchester United. The British newspaper's report added that INEOS's bid is the only one valued at over £5 billion ($6.29 billion). A source familiar with the matter informed Reuters that Sheikh Jassim, son of the former Qatari Prime Minister, submitted his final bid for the acquisition of Manchester United before the deadline ended on Friday. The American Glazer family, owners of Manchester United, announced in November that they were considering several options for the 20-time English champions, including new investment or a potential sale of the club after 17 years of ownership. British billionaire Ratcliffe, a long-time supporter of United, has expressed his desire to purchase the English club. INEOS has diverse sports investments, as it is a major partner of the eight-time Formula 1 world champion Mercedes team, owns the INEOS cycling team, and has a partnership with the New Zealand Rugby Union. The company also purchased French club Nice in 2019.