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Sir Jim Ratcliffe is planning to submit a reworked offer to buy Manchester United, according to reports.<\/p>\n
Manchester United news, exclusives and analysis<\/p>\n
The British billionaire, who founded the Ineos chemicals firm, has been competing against a group of Qatari investors led by Sheikh Jassim bin Hamad al-Thani to buy a majority stake in United from the Glazer family.<\/p>\n
The Glazers initially put United up for sale last November, however, reports earlier this month claimed that the club have been taken off the market as no buyer is prepared to meet the \u00a310 billion valuation.<\/p>\n
Bloomberg reports that Ratcliffe has not given up hope of buying United and is now \u2018restructuring\u2019 his offer.<\/p>\n
The report claims that Ratcliffe, who bought Ligue 1 side Nice in 2019, is working to \u2018address concerns about the terms of his bid from minority investors\u2019.<\/p>\n
Earlier this year, Ratcliffe had offered to buy the 69 per cent stake of United which is owned by the Glazers.<\/p>\n
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Speaking in July, Ratcliffe said of his move to buy United: \u2018There\u2019s still a process, we are in the process.<\/p>\n
\u2018But at the end of the day it\u2019s their decision. We\u2019d still very much like to do it and we\u2019d do it for the right reasons.\u2019<\/p>\n
Meanwhile, Sheikh Jassim has made several revised offers to buy United but the highest bid has not been in excess of \u00a36bn.<\/p>\n
The Glazers are holding out for a \u00a310bn offer and are said to be willing to wait until the market improves, which would bolster United\u2019s valuation.<\/p>\n