'We're in the process' - Sir Jim Ratcliffe says INEOS still in hunt for Man Utd after making 'good offer' to Glazers

• Ratcliffe affirms INEOS still in the race
• Believes a "good offer" has been presented
• The decision timeline remains uncertain

WHAT HAPPENED? The Manchester United takeover saga, which began in February, rumbles on with still no clear indication of when it will end. Sheikh Jassim Bin Hamad Al Thani had appeared to emerge as the favourite to win the race for the Red Devils, but Ratcliffe remains defiant about his chances and has confirmed that a "good offer" has been made to current owners the Glazers. While the decision-making process is ongoing, Ratcliffe emphasized that he respects the non-disclosure agreement (NDA) and cannot provide detailed updates about the movements behind the curtains.

WHAT THEY SAID: “We obviously can’t say too much because we’ve signed an NDA and we respect that but there’s still a process and we’re in the process. We have a good offer – we’ve met the Glazers a couple of times and we had a good conversation but at the end of the day it’s their decision... we would still very much like to do it. I also believe we would do a good job and do it for the right reasons. We keep very focused on it," he told reporters during the launch of Grit, Rigour and Humour - the Ineos Story.

THE BIGGER PICTURE: The pursuit of Manchester United by INEOS and other potential buyers has encountered delays and uncertainties. While Sheikh Jassim Bin Hamad Al Thani has tabled multiple offers, INEOS has remained committed to the terms presented in the third round of bidding.

Ratcliffe believes that he has bid the right amount for United and compared the club to "art" whose value increases over time.

"They ain’t making them anymore. Manchester United and these types of clubs, it’s like art or areas like that. When you have special things and their value continues to pick up over time because they are very special and rare. I don’t like throwing money away or losing money. It doesn’t make me happy at all. But we aren’t there to make money out of it. If it’s a really good asset it will increase its value over time," he added.

On being pressed whether he would rename the Old Trafford to exploit potential commercial opportunity for his petrochemicals company he brushed aside the idea and replied: "God no, that would be Heresy.”

IN TWO PHOTOS:

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WHAT NEXT? The two leading bidders have not been given a clear timeline of when the sale process could be completed. United begin their pre-season campaign with a friendly fixture against Leeds in Norway on July 12, but the takeover is not expected to be completed before the start of the season.