Failsworth-born Sir Jim now a major contender to take over United from Glazer family

Failsworth-born billionaire Sir Jim Ratcliffe is reportedly committed to buying out the Glazers completely at Manchester United, and will match a rival Qatar bid in promising a major redevelopment of Old Trafford and the club’s training base.

According to the Daily Telegraph, securing political backing has been cited as key in the Ratcliffe camp as the takeover coincides with the Government’s White Paper on regulation of football clubs.

With human rights groups already speaking out against Qatar’s bid, Ratcliffe’s Ineos Group says “football governance in this country is at a crossroads”.

Ratcliffe, who was at the Nou Camp in 1999 for United’s Treble win, will rely on his local background to rally support.

Brokers were known to have been initially keen to install a British owner during the sale of Chelsea last summer.

However, with debt financing from Wall Street giants, Ratcliffe, who has a personal worth of £6 billion, says he will make United “the number one club in the world once again”.

Part of Ratcliffe’s offer is bankrolled by Wall Street giants JP Morgan and Goldman Sachs.

However, rival bidder Sheikh Jassim bin Hamad Al Thani would have to declare whether his proposed funding relied on the state’s sovereign wealth fund, a subsidiary of which owns French giants Paris St-Germain.

In a statement on Saturday drawing contrast with potential state-sponsored offers, Ratcliffe's Ineos said: “We would want to help lead this next chapter, deepening the culture of English football by making the club a beacon for a modern, progressive, fan-centred approach to ownership.

"We want a Manchester United anchored in its proud history and roots in the North West of England, putting the Manchester back into Manchester United and clearly focusing on winning the Champions League.”

Ratcliffe’s stated bid is for “majority ownership”, while Qatar’s offer is for “100 per cent”. 

The Glazer family have owned Manchester United since 2005.

Ratcliffe lived in Failsworth until the age of 10 when his family moved to East Yorkshire.

He went to Beverley Grammar School, studied chemical engineering at Birmingham University, and gained an MBA from London Business School, according to a Financial Times profile.

His father, who was a joiner, went on to run a factory that made laboratory furniture, while his mother worked in an accounts office.

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