Manchester United fans might finally be in for some good news. While the side has been failing to produce the needed results on the field, the team might get a big change to their ownership structure in recent weeks. According to reports, the club is set to officially announce Sir Jim Ratcliffe’s investment in the club with the INEOS owner buying a 25% stake in the club.
This could be big news for Manchester United fans, with their team struggling in recent months. Sir Jim Ratcliffe has been linked with the purchase of the club for a while now, with the INEOS owner piping Qatar’s Sheikh Jasim to buy a stake in the club. With the club likely to go through some big changes in the coming months, here’s all you need to know about the new Manchester United investor.
What is Sir Jim Racliffe’s Net Worth?
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Fans around England were left stunned in October when it was reported that English billionaire Sir Jim Ratcliffe was interested in the potential takeover of Manchester United. After long rounds of negotiations, it seems like the club and Ratcliffe have come to terms. It’s been stated that the billionaire will be investing approximately $1.57 billion to buy a 25% stake in Manchester United.
Exclusive: Jim Ratcliffe’s acquisition of a 25pc stake in Manchester United Football Club will be announced today, 13 months after the launch of a review initiated by the Glazer family. Ratcliffe’s Ineos Sport will take control of the football side of the club. More soon.
— Mark Kleinman (@MarkKleinmanSky) December 24, 2023
This is big news for fans with Ratcliffe claiming to be a boyhood Manchester United fan. The seventy-year-old has made a name for himself over the years. Ratcliffe started his career off in 1992 by buying the BP chemicals business, using it as the cornerstone for his brainchild, INEOS.
According to reports, Ratcliffe boasts a $37.63 billion fortune, making him the second richest person in the United Kingdom. Apart from his breakthrough work with INEOS, the Englishman has made some valuable contributions to sporting communities around the world.
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What other investments does Jim Ratcliffe have?
Sir Jim Ratcliffe made his entry into the sporting world back in 2019. He bought out the Team Sky cycling squad, later rebranding it as INEOS Grenadiers. His entry into cycling was a colossal hit with Colombian rider Egan Bernal winning the Tour de France in his first year with the Grenadiers.
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🚨 Sir Jim Ratcliffe’s message to Man Utd fans.
“Our shared ambition is clear: we all want to see Manchester United back where we belong, at the very top of English, European and world football”.
“As a local boy and a lifelong supporter of the Club, I am very pleased that we… pic.twitter.com/beCTgqZd7X
— Fabrizio Romano (@FabrizioRomano) December 24, 2023
His success in cycling saw him move to soccer in the same year. Ratcliffe’s INEOS bought out French Ligue 1 outfit Nice, hoping to make a challenge for the league title. The investment has worked wonders for the club over the years. OGC Nice had a great start to their league campaign this season with the team currently placed second.
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Apart from his investments in football and cycling, Ratcliffe also has a sponsorship deal in place with F1 side Mercedes. The same agreement with the F1 side has seen the INEOS owner hold 33% stakes in the team. Do you think Jim Ratcliffe’s investment can bring Manchester United back to their glory days? Let us know in the comments below.
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