Michael Knighton has ruled himself out of running in the race to sign Manchester United. The Glazers recently declared that the board are looking for possible investment into the club.
With an aim to explore strategic alternatives, the American owner has begun the process of accepting qualified bids. Former United board member Knighton admitted in August that he plans to buy the club with the help of a consortium.
However, Knighton who is worth £5.8 million, has now supported Sir Jim Ratcliffe and wants Britain’s richest man to buy the keys to Old Trafford. Knighton tried to buy the club in 1989 by placing a bid worth £20 million.
However, the deal was not completed on time and the millionaire preferred to be a member of the board. He then started to talk about the ownership role a few months back. Knighton did share updates on his plans for a hostile bid but he has now ruled out any move to buy the club.
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However, Knighton believes that Ratcliffe has the capability to bid for the club and his immense wealth will make it easier for him. As reported by the Manchester Evening News, he said:
“I’ve been calling on the current owners to sell their shareholding. I’ve been unhappy with the business model they set up in 2005, with this highly-geared, leveraged buyout, using the club’s assets to buy the club and lumbering it with this enormous debt.”
“So I’m delighted that they have finally finalised their time is coming to an end. I’m sure all the supporters will be (too). For three years, I never took one halfpenny out of Manchester United, not even in expenses. I hope the new owners that come in will also have that philosophy.”
“This is why I’ve been championing the cause of Sir Jim Ratcliffe because he’s already gone public and said I don’t need to take any money out of any football club that I own. He earns enough from a highly-successful business.”
Sir Jim Ratcliffe who also owns the French club OGC Nice, has been constantly linked with the takeover role. The fans have supported these claims and will be excited to have the multi-millionaire as their new owner.
The business tycoon recently admitted that he will not take even a single penny from the club he owns. His commitment towards the club and its projects makes him an appealing candidate for this role.
