Sir Jim Ratcliffe is a British billionaire and the chairman of INEOS, a multinational chemicals company. He recently reached an agreement to acquire up to a 25% shareholding in Manchester United plc, a deal worth around £1.3 billion ($1.6 billion). This investment gives Ratcliffe total control of the sporting side of the club, with the Glazer family remaining the majority owners of Manchester United.
Ratcliffe has committed to investing a further $300 million into the club to revamp Old Trafford and the training ground. Ratcliffe, who already owns French club Nice and Swiss outfit FC Lausanne-Sport, has expressed his ambitious plans for Manchester United, including raising standards, winning trophies, and developing the club’s stadium and surrounding land.
This move marks the beginning of a new era for the sporting side of the club, with the potential for Ratcliffe and his INEOS group to increase their stake in the future. The deal has generated significant interest and anticipation among Manchester United’s fan base, which is hopeful that it will bring clarity and direction to the club’s future.
According to Bloomberg’s first report, the Glazers would consider selling a minority stake in the team, and Ratcliffe had emerged as the front-runner. According to a statement, Ratcliffe will acquire 25% of the Class B shares owned by the Glazer family and begin a tender offer for 25% of the listed Class A shares. He will invest $300 million in the club and receive two board seats.
Ratcliffe fought off an approach from Sheikh Jassim bin Hamad Al Thani, the third son of the former prime minister of Qatar, for full ownership of the club for the better part of a year. The Glazer brothers, Joel and Avram, wanted to make Manchester United the most expensive sports asset in the world, and neither bidder could match their ambition. They wouldn’t pay more than the club’s asking price, the Qatari company has already said.
The future of the club is uncertain under Ratcliffe’s management, since it is under the supervision of Joel and Avram Glazer—the heirs to the team from their father Malcolm—who amassed a wealth via various ventures, like as television and real estate.
Fans, who have been demanding the removal of the controversial Glazers from the club for years, will likely be enraged by the choice to retain ownership. In an effort to reawaken interest in the once-dominant club’s fortunes, the family enlisted the help of investment firm Raine Group, which oversaw the sale of Chelsea FC.
The rise of Sir Jim Ratcliffe
Despite coming from humble beginnings, Jim Ratcliffe—James Arthur Ratcliffe—has become one of the most powerful corporate magnates of our time. He was born on October 18, 1952, in Manchester, England. He attended the University of Birmingham with a degree in chemical engineering and came away with a strong desire to start his own business and be an innovator.
In 1998, Ratcliffe established INEOS, a global chemicals corporation. As a result of his direction, INEOS has expanded at an unprecedented rate, and it is now a major player in the international petrochemical market. A global leader in the production of plastics, synthetic oils, solvents, and medicinal chemicals, INEOS soared to prominence during Ratcliffe’s tenure as CEO. With approximately 26,000 employees worldwide, the company’s revenue is more than $65 billion.
The arrival of Sir Jim Ratcliffe into the footballing world has been profound. Ratcliffe first dabbled in football with his famous purchase of OGC Nice, a renowned French team. Strategic purchases and alliances have only grown his participation since then, catapulting Ineos into the limelight of football ownership.
Among Ratcliffe’s football holdings are the French club OGC Nice and a 25% stake in English Premier League powerhouse Manchester United. Ratcliffe maintains a low presence in the media despite his success and fortune. He despises events that get too much media attention and is famously meticulous.
Through the INEOS Foundation, Ratcliffe gives to a number of nonprofits that work to improve communities, protect the environment, and educate the public. Through strategic acquisitions and investments across many industries, INEOS is further broadening its worldwide footprint. With a net worth of £29.6 billion in 2023, Ratcliffe became the second-wealthiest person in the UK.
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