British billionaire Sir Jim Ratcliffe will eventually become a shareholder in 13-time Premier League champions Manchester United. Fed up with the current American owners, the Glazer family, Red Devils fans should be happy to have one of their own to have some idea of how the club is run in the future. In short, there is some accountability to talk about.
Since the retirement of Alex Ferguson in 2013, the Manchester club have won only minor trophies: the FA Cup in 2016, and the League Cup and Europa League in 2017. In the last six years, to put things into perspective, they have not happened. They won even a lesser trophy, not to mention the prestigious Premier League or the Champions League.
Things have gone downhill since the Ferguson era but things took a turn for the worse last year when the Glazer family announced they wanted to sell the club. Ratcliffe and Qatari banker Sheikh Jassim bin Hamad Al Thani were the fast movers but both interested parties failed in their ambitions, and then in October 2023, the Qatari banker withdrew, leaving Ratcliffe alone in the field.
British media outlets are reporting that Ineos Group Ratcliffe – a petrochemical firm – has agreed to pay up to $1.5 billion for a 25% minority stake as part of the deal. This news has been doing the rounds for the past few weeks but now it is expected to be officially announced during the upcoming international break or even before. England’s football team will be in action twice in four days on November 18 & 21 in the UEFA Euro Qualifiers against Malta and North Macedonia.
Born in Failsworth (Greater Manchester), England, the 71-year-old went to Birmingham University and London Business School, and earlier this year he jumped up to second place on the Sunday Times Rich List by estimated net worth of. $36 billion. Ineos has already made huge strides in the world of sport. They have two famous football clubs, Ligue 1 club Nice in France and Lausanne in Switzerland. The group also has a minority stake in the Mercedes F1 team. This is not the end of the story. They have a big presence in the world of sailing and the world of cycling.
Ratcliffe has been a lifelong United fan and this gives Red Devils fans a lot of hope. They believe that the Glazer family, being Americans, cannot be as responsible for the club as a local owner – and fans for that matter – who would often be happy to look beyond business interests and ready to be arranged. issues to ensure that the team does not suffer on the playing field.
Although Ratcliffe will be a minority stakeholder, he is expected to make a big difference. His background suggests that he is not the type to take things lying down. He likes to check how things turn out for one thing or another. Ratcliffe has agreed to shell out an extra $300m to address the Old Trafford issue. The stadium has come under fire recently because it is not up to international standards, especially in terms of spectator welfare.
Some development is better than no development. After months of uncertainty, the latest development will certainly win United fans over. The team are bottom of their group in the Champions League with three wins in four games; in the Premier League, they are currently in eighth place with five wins in 11 games. Ratcliffe is known to punch above his weight, so rest assured that he will do his best to solve some of United’s issues. The club seems to be stuck with infection at every level if truth be told. I hope the billionaire will live up to the expectations of the fans. In fact, he has no other choice but to succeed. United fans are known to be unforgiving and he wouldn’t want to incur his wrath.
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