Sir Jim Ratcliffe Still Thinking About Business, Don't Want To Buy Manchester United If The Price Doesn't Make Sense

Manchester United. (Photo: Twitter @ManUtd)

JAKARTA - British conglomerate Sir Jim Radcliffe is reluctant to buy Manchester United at unreasonable prices. This could be a signal that Ratchliffe withdrew from the Premier League Premier League's top club purchase plans.

Launching AFP, Tuesday, Ratcliffe compared the valuation of a painting and a house, which determines the price is not based on the cost of building or the cost of painting alone.

"What you don't want to do is pay a stupid price for something because then you regret it," the owner of the chemical company INEOS told the Wall Street Journal, quoted via Antara.

Ratcliffe, who currently owns a French club, Nice, said his enthusiasm for buying Manchester United was more about winning something and community assets than making it a financial asset.

Ratcliffe is one of Manchester United's bidders along with Qatari banker Sheikh Jasim Bin Hamad Al Thani. The majority owner of Manchester United, the US businessman, the Glazer family, officially founded the club nicknamed the Red Devils at the end of 2022.

Ratcliffe and Sheikh Jasim have released their first bid at a price of around 4.5 billion US dollars. Meanwhile, the Glazer family is valuing the current third-ranked club in the Premier League standings in the range of 6 billion dollars.

Representatives of Sheikh Jasim and Sir Jim Ratcliffe themselves have visited Old Trafford and Carrington in the process of Manchester United's bidding stages. It was stated that Manchester United management had provided access to financial information and club management to bidders to be considered in the second phase of the bidding process.

The second phase of the bidding process by prospective buyers is given a deadline of up to Wednesday.

Elliott Investment Management is also rumored to have entered the second offering process. However, the investment management company is more likely to provide a fund financing offer than to acquire the club.