British billionaire Sir Jim Ratcliffe is planning to offer more than £5bn including debt for England’s Manchester United football club, a record acquisition price for a sports team, according to two people briefed about the plan.
Ratcliffe, the founder of the Ineos chemicals empire, is competing against Qatari Sheikh Jassim bin Hamad al-Thani for the takeover of the most successful English Premier League football club.
Both bidders are due to submit their proposals to the Glazer family, which controls the club, ahead of a 9pm UK deadline on Wednesday, the people said. The value of Sheikh Jassim’s bid remains unclear.
The story is developing . . .