Jim Ratcliffe, a British billionaire and passionate Manchester United fan, has recently entered the football arena, securing a 25% share in the iconic Manchester United. This major transaction shifts the club’s ownership dynamics and positions Ratcliffe at the forefront of its football activities.
The deal’s revelation on Sunday comes amid a challenging phase for Manchester United, marked by a lack of Premier League titles over a decade. Post the 2013 retirement of celebrated manager Alex Ferguson, the club has struggled to regain its championship status. This drought has fueled dissatisfaction among supporters, primarily aimed at the American Glazer family owners.
Ratcliffe’s move entails a $300 million investment in Old Trafford, summing up to an estimated $1.6 billion. The deal includes an upfront payment of $200 million and an additional $100 million by end-2024. Notably, Trawlers Limited, entirely owned by Ratcliffe, will fund this transaction, avoiding any debt. This method stands in stark contrast to the Glazers’ leveraged takeover, which burdened the club with debt.
The deal’s timing has raised some eyebrows, with former United captain Gary Neville criticizing its announcement on Christmas Eve. Nevertheless, Ratcliffe’s involvement is seen as a potential turning point for the club. His local roots and status as a lifelong supporter add a personal dimension to the investment. Ratcliffe’s global business acumen, primarily through his ownership of petrochemicals giant INEOS, is expected to bring much-needed commercial expertise and financial commitment to the club.
United’s performance in recent times has been lackluster, with the team currently placed eighth in the league and having already been eliminated from European competition. The arrival of Ratcliffe could herald a new era for the club, especially in its approach to football operations.
Ratcliffe’s ambition for United is clear. He aims to leverage the global knowledge, expertise, and talent of the wider INEOS Sport group to catalyze improvement at the club. This strategy includes further investment into Old Trafford, signaling a commitment to both the club’s heritage and its future.
The Manchester United Supporters Trust (MUST) has expressed cautious optimism, acknowledging Ratcliffe’s potential to positively influence the club. However, concerns remain about how United’s core business will be managed by a minority shareholder and the practical implications of such an arrangement.
Apart from Manchester United, Ratcliffe’s sports portfolio is impressive. He owns the French soccer club Nice, the INEOS Grenadiers cycling team, and holds a one-third stake in the Mercedes-AMG Petronas Formula One team. His involvement in sports also extends to INEOS Britannia, which competes in the America’s Cup.
The transfer of ownership and control at Manchester United is not yet complete. The process requires ratification by the Premier League and an official announcement through the New York Stock Exchange. It’s anticipated that the transition could take several weeks to finalize, with all regulatory approvals met.
The recent development at Manchester United signifies more than a transfer of ownership. It indicates a change in the club’s destiny, providing renewed optimism for fans who have eagerly awaited a resurgence of the team’s glory. Jim Ratcliffe’s investment and his ambitious vision for the club may serve as the driving force that propels Manchester United again to the forefront of English and global football.
