By Tom Sunderland

Copyright manchestereveningnews

British billionaire Sir Jim Ratcliffe responded with scepticism when questioned about a competing bid to take over Manchester United . The Ineos boss wasn’t entirely convinced his competitor was even a real person . Ratcliffe, 72, agreed to purchase a 27.7% stake in United for approximately £1.3billion in December 2023, which he has since increased to 28.9%. At the time, the Brit outbid Sheikh Jassim bin Hamad Al Thani , who was solely interested in buying the club from the Glazer family outright but failed in his £5.5bn proposal. Ratcliffe’s future as a United shareholder is now thought to be at risk following rumours a new investor is in discussions to buy the club. This comes after Saudi sports chief Turki Al-Sheikh claimed to have insider information when he posted on X this week: “The best news I heard today is that Manchester United is now in an advanced stage of completing a deal to sell to a new investor.” Al-Sheikh later somewhat retracted those comments and admitted the proposed purchase “might not necessarily happen.” And it wouldn’t be the first time Ratcliffe has reason to feel doubtful about a rival offer after previously commenting on Sheikh Jassim’s attempts. “Still nobody’s ever seen him, actually. The Glazers never met him,” he said last year after being asked about the “odd” nature of Sheikh Jassim’s low visibility during the bidding process. He then delivered a brutal five-word summary of his former rival: “I’m not sure he exists! [Laughs].” An atmosphere of mystery surrounded Sheikh Jassim’s candidacy when the bidding process reached its climax in 2023. While Ratcliffe has long been a well-known business tycoon and already possessed European clubs such as Nice and Lausanne, Sheikh Jassim remained largely behind the scenes of his own bid. The son of former Qatari emir Sheikh Hamad bin Khalifa Al Thani witnessed his proposal collapse in the face of Ratcliffe’s challenge. While the Briton was satisfied acquiring a minority share in the club that could grow over time, Sheikh Jassim sought to purchase the entire entity with his £5.5bn bid. Ultimately, the offer was rejected due to worries over whether the Sheikh and his representatives could demonstrate proof of funds. Yet not even two years on, there is renewed speculation of a fresh takeover occurring. That may appear peculiar so shortly after Ratcliffe’s investment, but it’s become apparent precisely how another change of ownership can happen. That’s because of ‘drag-along’ provisions incorporated in his deal , which grant the Glazer family powers to compel a sale if particular conditions are satisfied. Ratcliffe initially had first-refusal rights to match any incoming offer, but this expired in August. Now, the Glazers hold the power to enforce a deal. While details of any new bid remain scant, it’s not believed that Sheikh Jassim has made another attempt to take over United. However, potential buyer Thomas Zilliacus would be open to welcoming fellow investors like the Qatari, provided their intentions align. Here at the Manchester Evening News, we’re dedicated to bringing you the best Manchester United coverage and analysis. Make sure you don’t miss out on the latest United news by joining our free WhatsApp group. You can get all the breaking news and best analysis sent straight to your phone by clicking here to subscribe. You can also subscribe to our free newsletter service. Click here to be sent all the day’s biggest stories. And finally, if you’d rather listen to our expert analysis then make sure to check out our Manchester is Red podcast. Our shows are available on all podcast platforms, including Spotify and Apple Podcasts , and you can also watch along on YouTube .