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Is Britain’s richest man being ghosted by its richest soccer team?
Sir Jim Ratcliffe recently publicized his interest in buying Manchester United, but the billionaire reportedly hasn’t heard back from the team’s current owners, the Glazer family.
Worth an estimated $11.6 billion, Ratcliffe’s interest isn’t unwarranted. The Glazers, who purchased the team for a reported $951 million in 2005, are currently seeking at least $235 million in funding to make infrastructure improvements to the team’s Old Trafford stadium.
- A loan and stake sale have reportedly been discussed.
- Funds in exchange for a part of the team’s media rights are likely, per The Times.
Ratcliffe owns cycling team INEOS Grenadiers, as well as soccer clubs Nice and FC Lausanne-Sport. He also bid for Chelsea FC this year.
Outlets recently reported that the Glazers would seek a record $5.9 billion — at least — if they were to sell the team. Forbes last valued the team at $4.6 billion.
Glazer Gossip
The Glazers are facing scrutiny from Man U fans, with mounting pressure to sell.
Under the family, who also owns the Tampa Bay Buccaneers, Man U has paid around $1.1 billion in interest and debt repayments, while the family has collected $406 million in consulting fees, dividends, and share sales.
