Man Utd takeover: Identity of ‘preferred bidder’ is revealed as Glazers will ‘need to show their hand’

The Glazers’ association with Manchester United could be coming to an end soon with the ownership situation at Old Trafford taking a fresh turn. Erik ten Hag’s side are currently sat in 4th place in the Premier League table.

As detailed in a report by The Sun, Sir Jim Ratcliffe is the ‘preferred bidder’ at this moment in time. The INEOS owner has reportedly been in a ‘bidding war’ with Qatari banker Sheikh Jassim bin Hamad al-Thani as the pair battle it out for one of the most successful football clubs in the world.

In addition, reporter Ben Jacobs has provided the latest update regarding United to GiveMeSport: “As long as neither group is in an exclusive period, which they’re not at the moment, then there’s nothing stopping The Glazers from having their cake and eating it, and indicating that one offer suits them whilst perhaps hoping that that encourages the other group to improve their bid. This is why it’s a complicated process fuelled by games and politics.

“So eventually, The Glazers will have to show their hand, but my understanding is that neither group has been told directly, at least as of Wednesday night, that they have a preferred bidder.”

Who is Sir Jim Ratcliffe?

Ratcliffe is a British billionaire and is the chairman and CEO of the INEOS chemicals group. His latest net worth estimation is believed to be around the $28.2 billion mark.

He was born in Failsworth, Manchester, but moved to East Yorkshire as a child. The 68-year-old has been involved with football in the past and became owner of Swiss side FC Lausanne-Sport back in 2017.

United’s current focus on the pitch is to quality for the Champions League and that will certainly boost their chances of a sale. Developments are brewing away behind the scenes with Ratcliffe looking to see off competition from elsewhere to land a deal.