The race to buy Manchester United heated up on Saturday, with Jim Ratcliffe's company INEOS confirming it had bid for the club and a source saying that U.S. hedge fund Elliott Investment Management was also prepared to finance a takeover.
British billionaire Ratcliffe, a lifelong United fan and founder of chemical producer INEOS, has previously openly expressed his interest in buying the Old Trafford club, and INEOS formally entered the bidding process earlier this year.
INEOS said in its statement on Saturday that it would look to implement a fan-centered approach, something that has been largely absent under the current owners, the Glazer family.
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