Jim Ratcliffe’s company INEOS has formally entered the bidding process to buy Premier League soccer club Manchester United, a spokesperson for the chemical firm said on Tuesday.
The Glazer family, United’s U.S. owners, said in November they had begun looking at options for the 20-times English champions, including new investment or a potential sale, 17 years after they bought the Old Trafford club.
In August, British billionaire Ratcliffe, a long-time fan of the club, expressed interest in buying United, Reuters reported.
“I can confirm that we have formally put ourselves into the process,” an INEOS spokesperson said in a statement on Tuesday.
United declined to comment when contacted by Reuters.
The Times newspaper, which first reported the news, said formal bids were expected to start next month, with United potentially changing hands by the end of the season.
In August, British billionaire Ratcliffe, a long-time fan of the club, expressed interest in buying United, Reuters reported.
“I can confirm that we have formally put ourselves into the process,” an INEOS spokesperson said in a statement on Tuesday.
United declined to comment when contacted by Reuters.
The Times newspaper, which first reported the news, said formal bids were expected to start next month, with United potentially changing hands by the end of the season.
-Reuters