Manchester United's ownership question has shifted from prestige to price. INEOS paid approximately £1.2 billion for 25% of the club in February 2024, which implied a £4.8 billion valuation. Fresh estimates now place a possible sale somewhere between £5 billion and £5.5 billion, and that is the range any serious bidder would have to meet.
The price range around Old Trafford
That valuation has not collapsed with the football. United's most recent reported revenue is £677.6m, up from £648.4m the year before Ratcliffe's investment, which is why the club still sits in that £5 billion-plus bracket rather than drifting into bargain territory. The gap between £4.8 billion and a £5 billion to £5.5 billion sale is not huge, but it is enough to make a full deal a much harder conversation.
Relegation would deepen the damage
The football crisis is still making the ownership debate uglier. United are 18th in the Premier League with 8 points from 10 matches, and the financial hit from relegation would be severe, with Championship revenue projected to fall to around £375m to £450m and broadcasting income down from £206.8m to roughly £55m to £65m. Even so, the Glazers are not being presented as people who would automatically sell just because the club dropped out of the division.
Ratcliffe's company already owns almost 29% of United, and the financing structure suggests 2029 may be the first realistic window for a full takeover. That leaves the club in an awkward place, with the current price still high and the pathway to complete control still blocked. The market may talk about distress, but the sale number is still closer to £5 billion than to a fire-sale discount.
Written by Jack Mercer with AI-assisted research, cross-checked against 5 outlets. How we work →
