Ineos Chair Jim Ratcliffe would pay over $1.5bn for a 25% stake in Manchester United Plc were his bid for the iconic soccer club to be accepted by the Glazer family that controls it, a person familiar with the matter said yesterday. The terms of Ratcliffe's bid infer a valuation on Manchester United of close to $6.5bn, excluding its net debt of more than $600mn, the source said. Manchester United is currently valued by the stock market at $3.3bn. The Glazers have not yet reached a deal with Ratcliffe and negotiations may continue at least until the end of the month, the source said.