Manchester United takeover process continues, with Sir Jim Ratcliffe being one of the front-runner bidders. However, he has clarified that although he is a lifelong fan of the club, he will not be overpaying for it, and here is why.
English giants Manchester United is on the verge of being sold as the takeover process continues with bidding talks. While the club was put on sale by the Glazers last November, Sir Jim Ratcliffe and Sheikh Jassim bin Hamad bin Al Thani are the two bidders who have publicly declared their bids, while the two met the club board last week.
While Ratcliffe arrived in person for the meeting with the Red Devils board, he is one of the fan favourites, considering he has been a lifelong United fan. However, as far as his bid is concerned, he is looking to acquire only the stake held by the Glazers at the club, while he has attested that he would not be playing "stupid prices" for the takeover, as it would lead to him eventually regretting it.
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Articulating to the Wall Street Journal, Ratcliffe spoke, "How do you decide the price of a painting? How do you decide the price of a house? It's not related to how much it costs to build or how much it costs to paint. What you don't want to do is pay stupid prices for things because then you regret it subsequently."
Ratcliffe will face extreme competition from Al Thani in the bidding war, who many consider the ultimate front-runner in the race. While the Glazers have demanded around £6 billion, the club is interestingly valued at £4 billion by Forbes. Also, reports have suggested that while the current American owners would prefer a partial sale, a complete sale looks very much on the cards.
According to Sky Sports, Wednesday is the deadline to submit the second round of improved bidding, with eight official bids expected to be received by the club. Although Al Thani was not present in person during the meeting with the United board last week, his representatives held positive talks after spending 10 hours and are reportedly confident of acquiring the club, with some suggesting that the Qatari delegation might be ready to overpay.