INEOS billionaire says he doesn't want to pay'stupid' price for Manchester United

INEOS billionaire says he doesn't want to pay'stupid' price for Manchester United

In this file photo dated July 18, 2022, British INEOS Group chairman Jim Ratcliffe poses for a photo at the Casino in Monte Carlo for the 73rd edition of the Red Cross Gala. PHOTO AFP British billionaire Jim Ratcliffe said he didn't want to pay a stupid price for Manchester United ahead of Wednesday's deadline for second offers for the Premier League club.

In February, Ratcliffe, a lifelong United fan and founder of the chemicals company INEOS, put in a bid for the club.

In November of 17 years, the Glazer family looked at options for the record 20-time English champions, including new investment or potential sale, after they bought the club for 790 million pounds $968.30 million as part of a highly leveraged deal.

Sources have told Reuters that any sale of United would likely surpass the biggest sports deal so far - $5.2 billion including debt and investments paid for Chelsea.

In this file photo taken on November 23, 2022, Old Trafford Stadium, the home ground of Manchester United football team, is pictured in Manchester, northern England. PHOTO AFP In an interview with the Wall Street Journal, Ratcliffe described the club as a community asset rather than a financial one.

How do you decide the price of a painting? It's not related to how much it cost to build or how much it cost to paint, according to Ratcliffe.

What you don't want to do is pay stupid prices for things, because then you regret it subsequently. According to Sky Sports, United are expected to receive more than five bids before Wednesday's deadline for second offers.