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Sir Jim Ratcliffe’s Ineos Formally Enters Manchester United Takeover Race

Sam Boughedda
Sam Boughedda trader
Updated 18 Jan 2023

Ineos, the company run by one of the UK’s richest men, Sir Jim Ratcliffe, confirmed it has entered the running to acquire Manchester United (NYSE: MANU).

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YOUR CAPITAL IS AT RISK. 81% OF RETAIL CFD ACCOUNTS LOSE MONEY.


Reports regarding Ratcliffe’s confirmation of his entry into the race emerged late Tuesday, with his company confirming it has “formally put ourselves into the process.”

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YOUR CAPITAL IS AT RISK. 68% OF RETAIL CFD ACCOUNTS LOSE MONEY

In November, the Glazer family confirmed it was exploring strategic alternatives for the club, adding that it would “consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the company.”

Since then, several organisations have been rumoured to have been interested in acquiring the footballing giant.

Ratcliffe’s Ineos group already has a strong presence in the sporting world and football. It owns French Ligue 1 club Nice and Swiss club Lausanne, while it also has a five-year partnership with Formula 1 team Mercedes, while also being involved in sailing and cycling.

Ratcliffe is also a boyhood Manchester United fan, despite his unsuccessful late bid to buy Chelsea last year after Roman Abramovich put the club up for sale. He also held a meeting with the Glazers following his failure to acquire Chelsea, but at the time, the Glazer’s said they didn’t want to sell the club.

Following news that the Glazers were exploring strategic alternatives for the club, Manchester United shares surged, hitting a high of $25.24 earlier this month. In the last 12 months, the stock has gained over 56%.


YOUR CAPITAL IS AT RISK. 81% OF RETAIL CFD ACCOUNTS LOSE MONEY.


Sam Boughedda
Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.