Britain’s richest man Sir Jim Ratcliffe has been forced to accelerate his plans to buy Manchester United or miss out.

It comes as the club told interested parties to formalise their interest by mid-February as the Red Devils hope to conclude a sale by the end of the season. The Glazer family, who bought United in 2005, put the asset up for sale in November and are looking for as much as £8billion to sell.

Ratcliffe, who is a fan of the Red Devils, could make an offer and United chiefs believe that he will enter the race to take over the club. However, he is not involved in any of the three parties who are currently holding talks – with interest from the Middle East, Asia and America.

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A report in the Telegraph outlines how Ratcliffe’s interest is genuine but he is wary of overpaying for any club in the current climate. He entered discussions to buy Chelsea late in the day a year ago and discontinued his interest when he believed the price had become inflated.

Ratcliffe’s interest in the club had been designed with a view to launching a move at the end of the season when the uncertainty around United, on and off the pitch, had calmed down. This way, he’d have a clearer idea of the asking price and whether the Red Devils would be participating in the Champions League the following season.

The businessman already owns French club Nice with continued speculation that he may invest in a high-end British side. However, Ratcliffe has previously outlined why he has not invested in a Premier League outfit, claiming that it did not represent value for money.

Sir Jim Ratcliffe has been linked with buying Manchester United over the past year

Have Your Say! Would Ratcliffe be the ideal owner for Man United? Tell us what you think here.

Ratcliffe previously explained to The Times in 2019: “Even though clubs have those valuations today, nobody has ever paid those amounts of money. How much did Abramovich pay for Chelsea, £100 million? The Glazers, what £500 million? You can say it’s worth three, four billion but no one has ever paid those sums.

“Ineos has always tried to take a sensible approach. We don’t like squandering money or we wouldn’t be where we are today. It’s part of our DNA, trying to spend sensibly.”

Ratcliffe has received calls from the club’s fanbase and ex-Red Devils director Michael Knighton to make a bid for United, but he poured cold water on the suggestion earlier this year.

Avram and Joel Glazer have put Man Utd up for sale

Ratcliffe said at the time: “If the club had been for sale in the summer, yes, we probably would have taken a chance after what happened with Chelsea, but you can’t just sit there waiting indefinitely for Manchester United to be available. Manchester United is owned by the Glazer family, whom I met. I met Joel and Avram, and they are lovely people. They’re real gentlemen, and they don’t want to sell. The club is owned by the father’s six children and they don’t want to sell.”

However, United’s stance has subsequently changed – and there is an expectation that Ratcliffe will now become involved in the bidding process.