By Fraser Fletcher, Transfer Correspondent

16th Feb, 2023 | 11:36am

Sources: Critical update on Sir Jim Ratcliffe's Man United takeover bid - 'He's saying...'

Sir Jim Ratcliffe’s valuation of Man United will not match the price other bidders are willing to pay, sources have told Football Insider.

The Raine Group have put a “soft” deadline for potential bids by Friday (17 February)m by which time interested parties are requested to have submitted a one-paragraph bid that includes the offer and proof of funds.

Ratcliffe’s company Ineos, a multinational chemical manufacturer based in London, has publicly declared an interest in taking over from the Glazer family.

The British billionaire is the only party to have publicly declared an interest in purchasing the Premier League giants, but investors in Qatar are also among the groups who will submit a bid.

Journalist Ben Jacobs has told Football Insider that he expects Ratcliffe’s valuation to be substantially lower than the Qatari investors’ and lower than the Glazer family’s £6billion price tag.

Speaking on the Fraser Fletcher Show on Football Insider’s YouTube channel on Wednesday (15 February), Jacobs said: “With Sir Jim Ratcliffe we know that his valuation is probably going to be lower than the Qatari bid.

“However, he is out there in public saying he wants to buy Man United.

“He has tried in the past and he himself has got to get around structural issues because he owns Nice as well.

“But the thing to get your head around is that those that are quietest in a takeover are normally most credible. For Jim Ratcliffe, it might be in his interest to do his business in public.

“For Man United, it might be in their stock price’s interest to be as public as they can.”

As Jacob acknowledged, the worry for Ratcliffe comes from his ownership of Nice.

According to Uefa regulations, no club competing in Uefa competitions such as the Champions League, Europa League, and Europa Conference League may, either directly or indirectly, hold or deal in the securities or shares of another club participating in a Uefa club competition.

The rules also stipulate that no individual or legal entity may have control or influence over more than one club participating in a UEFA club competition.

This includes, among other criteria, being able to exercise a decisive influence in the decision-making of the club.

Ratcliffe would also need to pass the Premier League’s Owners’ and Directors’ test that outlines requirements prohibiting someone from becoming owner or director of an English club.

The lifelong United fan has already tried to purchase the club last summer but was informed in a conversation with Joel and Avram Glazer that the club was not for sale.

But, as quoted by the Daily Mail (17 October), the 70-year-old said that he would have “had a go” at purchasing the club had the opportunity arisen.

In other news, a pundit has made ‘massive’ Man United takeover claim as bid comes in – ‘everything about them is huge’.