Utd fan & Britains richest man Ratcliffe explains why he hasn't purchased club

Sir Jim Ratcliffe, Britain's richest man, has explained why he has not made the decision to buy Manchester United.

Ratcliffe is worth a reported £20billion after the success of his multi-national chemicals company, Ineos.

The 67-year-old used some of his wealth to purchase French club Nice for €110m in August, while it's said that he has been looking into the possibility of taking over the likes of Chelsea, Newcastle or Leeds.

Ratcliffe was born in Oldham and is a United fan but has been heavily linked with a takeover of the Blues in recent months.

But when it comes to the idea of potentially buying United from the Glazer family, Ratcliffe has been quick to distance himself from such a 'dumb money' move.

Speaking to The Times, Ratcliffe said: "(Ineos) never wants to be the dumb money in town, never, never."

Asked whether he would be interested in a move for United down the line, Ratcliffe responded: "Not at the moment, no. They are in quite a big pickle as a business.

"They haven't got the manager selection right, haven't bought well. They have been the dumb money, which you see with players like Fred.

"We won't look elsewhere until we have had a good run here (at Nice). We need to find out how to be successful before you ever want to write a big cheque. It's quite difficult."

Ratcliffe added that United have not been the same since Sir Alex Ferguson retired in 2013.

"United have spent an immense amount since Ferguson left and been poor, to put it mildly. Shockingly poor, to be honest," Ratcliffe added.

"We have a different approach here to be moderately intelligent about it. Try to do it more grass roots, trying to locate young talent.

"Some clubs seem to have an ability to do that, Southampton, Lille. United have done it really poorly. They have lost the plot there somehow."