Jim Ratcliffe, Britain’s richest man, ‘hires Wall Street giants JPMorgan and Goldman Sachs to advise him on his bid to buy Man United’… as he faces competition from Qatari investors
- Manchester United was put up for sale by the Glazer family back in November
- Sportsmail revealed that talks between Man United and Qataris have taken place
- But Jim Ratcliffe has now reportedly taken further steps to help him with an offer
Britain’s richest man Sir Jim Ratcliffe has reportedly hired Wall Street giants JP Morgan and Goldman Sachs to advise him on his bid to buy Manchester United.
Ratcliffe, a Manchester United fan, will face stiff competition from Qatari investors who are looking to buy the club ahead of the February 17 deadline set by the US merchant bankers Raine.
According to Bloomberg, Ratcliffe has entrusted the Wall Street giants to help him study the feasibility of an offer for Man United.
United announced they were open to a sale or investment on November 22 and Ratcliffe became the first potential bidder to put his hat into the ring in January.
The Glazer family will probably struggle to attract their desired £6billion bid for United, according to those within the process. They believe between £4.1bn and £4.5bn is more realistic.
Britain’s richest man Sir Jim Ratcliffe has reportedly hired Wall Street giants JP Morgan and Goldman Sachs to advise him on his bid to buy Manchester United
Ratcliffe was also in the running to buy Chelsea last year before the Blues were eventually sold to a consortium led by Todd Boehly.
The chemicals magnate, who is worth around £13.3bn, first spoke about his interest in buying United if they ever came on the market last summer.
Then, when the Glazers suddenly put the club up for sale following years of fan protest against the ownership, a spokesperson for Ratcliffe said: ‘We have formally put ourselves into the process.’
But as Sportsmail revealed on Wednesday, a private wealth fund from Qatar want to buy the Premier League giant.
Following the World Cup hosted by Qatar, the group of Qatari investors became interested in United.
Last month, belief grew that they should have a stake in a club they see as the biggest in the world.
Talks between the prospective buyers and United’s hierarchy followed. The Qataris are also confident there will be no issues presented by Qatar Sports Investments’ (QSI) ownership of Paris Saint-Germain.
More to follow.
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