INEOS, led by billionaire Jim Ratcliffe, has formally entered the bidding process to acquire Premier League soccer club Manchester United, according to a spokesperson for the chemical company. The Glazer family, the current U.S. owners of the club, announced in November that they were exploring options for the future of the club, including new investment or a potential sale. Ratcliffe, a long-time fan of Manchester United, expressed interest in buying the club in August. The formal bid process is expected to start next month, with United potentially changing ownership by the end of the season. Interest from the United States, the Middle East, and Asia is anticipated.