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Sir Jim Ratcliffe’s wealth skyrockets as he closes in on Man United takeover – report

Manchester United suitor, Sir Jim Ratcliffe, has seen his reported net worth rise exponentially, from last year’s estimate of £6.05 billion to £29.688 billion, making him the UK’s second richest person.

The new figure was published in the Sunday Times Rich List 2023.

Sir Jim, who owns petrochemicals giant, INEOS, is currently thought to be the frontrunner in the race to acquire Man United from the Glazer family.

The Glazers reportedly prefer Ratcliffe’s offer to that of his rival, Sheikh Jassim bin Hamad Al Thani, a member of Qatar’s royal family, and chairman of Qatar Islamic Bank.

Ratcliffe’s bid is believed to offer the family some leeway to remain involved in the ownership structure of the club.

Sheikh Jassim, on the other hand, insists on a full-scale buyout, with his most recent offer believed to be in the region of £5.6 billion.

Sir Jim’s new status as the UK’s second richest person is not likely to have a significant bearing on the sale, as his real net worth is not likely to have changed significantly from last year.

Rather, it appears that new information has emerged, uncovering a more realistic picture of just how wealthy the INEOS owner is.

While speaking on these findings, Robert Watts, who compiles the list on behalf of the Sunday Times, is quoted as having said:

“This year we have new information about the full scale of INEOS’ profits and that has made us confident that INEOS is now worth at least £40bn. We have also learned more about the personal assets that Jim has accumulated over the past 25 years.”

The accountants and legal experts who will be doing due diligence on behalf of the banks financing Sir Ratcliffe’s offer, and those who work for Man United and the Glazers, will likely have had a more accurate picture of Sir Ratcliffe’s net worth all along.

Man United fans, however, will probably feel an increased confidence in Ratcliffe’s ability to deliver on some needs, including investment in the squad, and the much-needed refurbishment of Old Trafford.

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