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<\/p>\nManchester United bidder Sir Jim Ratcliffe has suffered a double financial blow – and it could impact his ability to purchase the Red Devils.<\/p>\n
Sir Jim is looking to takeover United through his INEOS group, who already invest in numerous sports – including F1 and rugby. However, Ratcliffe's two major chemical firms have recorded net losses in the second quarter of 2023.<\/p>\n
According to Bloomberg, both INEOS Group Holdings SA and INEOS Quattro Holdings Ltd recorded losses, the first time it's happened at the two firms since the second quarter of 2020.<\/p>\n
INEOS' bondholders remain 'quite relaxed' due to its cash reserves, but it still could be a major blow to his takeover hopes, with the Glazers upping their asking price.<\/p>\n
READ MORE: <\/b>Man Utd's new shirt sponsorship deal nowhere near Cristiano Ronaldo's annual wages<\/b><\/p>\n
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Sky Sports is bringing you 500 live football games to watch, as well access to Cricket, Golf, F1, Boxing, NFL, NBA and more across eight<\/span> dedicated channels. Sky Sports is the <\/span>only way to watch all the action this year.<\/span><\/p>\n \u00a322 a month<\/p>\n It's unclear if the Glazers will now sell United – with recent reports suggesting they've upped their asking price to \u00a310billion, with the buyer also having to take on \u00a31billion worth of debt.<\/p>\n Sir Jim Ratcliffe is also facing competition from Qatari banker Sheikh Jassim bin Hamad Al Thani.<\/p>\n What do you think of Sir Jim Ratcliffe's blow to his takeover bid? Let us know in the comments section below<\/i><\/b><\/p>\n However, Ratcliffe won't be deterred so easily with his takeover efforts, and in a recent interview with INEOS he doubled down on his bid.<\/p>\n He said: "The Manchester United bid would have been unthinkable two or three years ago if we hadn\u2019t had some of experiences – some quite difficult experiences with Lausanne and Nice. <\/p>\n "You can\u2019t really contemplate acquiring a brand like Manchester United and failing because the failure is just far too public and excruciating in a deal like that."<\/p>\n![](\"https:\/\/i2-prod.dailystar.co.uk\/incoming\/article29960472.ece\/ALTERNATES\/s615b\/0_Sir-Jim-Ratcliffe-file-photo.jpg\")
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