Ratcliffe's INEOS confirms bid for Manchester United

FILE: British INEOS Group chairman and OGC Nice's owner Jim Ratcliffe looks on before the French Cup final football match between OGC Nice and FC Nantes in Saint-Denis on May 7, 2022. (BERTRAND GUAY / AFP)

Manchester United have received a bid from Jim Ratcliffe's company INEOS for the Premier League soccer club, the chemical firm confirmed in a statement on Saturday.

The Glazer family, United's American owners, said in November they had begun looking at options for the record 20-time English champions, including new investment or a potential sale, 17 years after they bought the Old Trafford club.

INEOS formally entered the bidding process to buy United earlier this year.

"We would see our role as the long-term custodians of Manchester United on behalf of the fans and the wider community. We are ambitious and highly competitive and would want to invest in Manchester United to make them the number one club in the world once again," INEOS said.

Ratcliffe has previously openly expressed his interest in buying the Old Trafford club.

The initial deadline for bids expired on Friday. Qatar's Sheikh Jassim Bin Hamad Al Thani also confirmed a bid on Friday.

More from Business

  • H.H. Sheikh Maktoum reviews Dubai Economic Security Centre’s strategy

    His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, has reviewed the Dubai Economic Security Centre's Strategy 2025-2030.

  • Dubai allows SZR, Al Jaddaf property owners to convert to freehold

    Dubai Land Department (DLD) announced on Sunday that private property owners of all nationalities in the Sheikh Zayed Road area (from the Trade Centre Roundabout to the Water Canal) and Al Jaddaf area can now convert their ownership status to freehold.

  • SEWA implements water networks projects in Kalba

    As part of Sharjah Electricity, Water and Gas Authority's (SEWA) efforts to improve and develop water transmission and distribution networks in all regions of the Emirate of Sharjah, the Authority announced on Sunday it is implementing a number of projects in Kalba city at a cost of up to AED107.4 million.

  • UAE ranks among top 35 countries with largest global maritime fleets

    The UAE has ranked among the top 35 countries globally with the largest shipping fleets by tonnage and capacity, according to the 2024 report by the United Nations Conference on Trade and Development (UNCTAD).

  • TikTok goes dark for US users

    TikTok stopped working in the United States late on Saturday and disappeared from Apple and Google app stores ahead of a law that takes effect on Sunday requiring the shutdown of the platform used by 170 million Americans.