Billionaire who 'looked' at Newcastle United will raise Manchester United bid

Sir Jim Ratcliffe will raise his multi-billion pound offer for Manchester United.
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Ratcliffe looked at making a bid for Newcastle United during Mike Ashley’s time in charge – but was put off by the asking price. The Ineos founder instead bought French club Nice for £88million in August 2019.

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Speaking at the time to BBC Radio 5 Live, Ratcliffe’s brother Bob said: "We spent quite a lot of time looking at Premier League clubs and their valuations It was difficult to rationalise purchases in the Premier League for us.

Jim Ratcliffe at last year's French Cup final between Nice and Nantes at the Stade de France, Paris.Jim Ratcliffe at last year's French Cup final between Nice and Nantes at the Stade de France, Paris.
Jim Ratcliffe at last year's French Cup final between Nice and Nantes at the Stade de France, Paris.
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"You look at Newcastle, and we looked at a lot of clubs. You come back to a valuation in the hundreds of millions, and it’s difficult to contemplate.

"I think, for the foreseeable future, it’s off the radar. We have a three to five-year project in Nice, and that will keep us busy."

A consortium led by financier Amanda Staveley eventually bought Newcastle for £305million in October 2021. The fifth-placed club is now 80%-owned by Saudi Arabia’s Public Investment Fund.

Bid deadline

Ratcliffe is now one of a number of bidders seeking to take control of – or invest in – Man United, owned by the Glazer family. Sheikh Jassim bin Hamad Al Thani, of Qatar, is also looking to take over the club.

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A first round of bidding took place last month, and prospective investors have been asked to submit improved offers this week. The initial bids were reportedly in the region of £4.5billion, and the PA news agency is reporting that Ratcliffe, a boyhood Man United fan, will raise his offer.

Ratcliffe – who made an unsuccessful bid to buy Chelsea in 2022 – visited Old Trafford last week.

The Glazers acquired the club for £750million in a highly-leveraged deal in 2005. After a controversial reign, they announced they were seeking “strategic alternatives” that could include a sale last year.

Ratcliffe was born in the Manchester area and is a boyhood fan of the club.

The 70-year-old is one of the richest people in Britain with an estimated personal fortune of £6billion.

Newcastle take on third-placed Man United at St James’ Park on April 2.