Jim Ratcliffe enters race to buy Manchester United
FT says British chemicals billionaire Sir Jim Ratcliffe has formally entered the process to buy Manchester United, as the Glazer family looks to sell one of the biggest brands in global sport.
Ratcliffe has lodged his interest with Raine Group, the merchant bank advising the English Premier League club, a spokesman for Ratcliffe confirmed on Tuesday.
The Glazers have owned Manchester United since their £790mn leveraged buyout of the club in 2005. The family has had a fraught relationship with the fanbase ever since.
The club’s New York-listed shares were trading up 1.3 per cent at $23.27 each on Tuesday, valuing the company at $4.5bn, including debt. The stock has risen almost 80 per cent since November, when the Glazer family first made public that they were considering selling the club.
https://www.ft.com/content/1ffbdd69-455d-4181-b4fc-86baccb360f9
