Despondent Manchester United fans can finally sniff a scent of freedom from the current owners after reports emerged that the Glazer family is willing to sell the club. The club has been on the decline for almost a decade now, and the fans think the only way out from the years of mediocrity is to have a new owner, who is willing to invest in the team.
Enter Sir Jim Ratcliffe, the multi-billionaire and one of the richest men in Britain, to the scene. Ratcliffe has publicly declared his interest in buying the listing ship and turning them into the powerhouse they once were. He was also in the race to buy London-based Chelsea from Roman Abrahomovic, but it didn’t materialise.
“If the club is for sale, Jim is definitely a potential buyer,” said Ratcliffe’s spokesperson. This is not about the money that has been spent or not spent. Jim is looking at what can be done now and, knowing how important the club is to the city, it feels like the time is right for a reset.”
What Is Jim Ratcliffe’s Net Worth?
As per Forbes 2022 billionaires list, Ratcliffe’s personal fortune was estimated at around $16.3bn, making him the 11th richest person in the world. He made his fortune from the petrochemical giant Ineos which he founded in 1998. Last year, Ineos, consisting of three dozen individual businesses, reported an annual turnover of a whopping 18.8 billion euros.
Ratcliffe is an MBA graduate and started his professional journey with Exxon Chemicals. Till 2020, he used to live in Hampshire before shifting to tax-haven Monaco, a move that reportedly saves him around £4 billion in taxation.
He also owns a lavish home Napoleon Bonaparte Imperial estate in Switzerland next to the F1 legend Michael Schumacher’s. Outlined by the scenic shores of lake Geneva, the house is just next to Michael Schumacher’s. In 2020, he received a knighthood for his services to business and investment.
In 2012, he bought a 78-meter yacht for $172 Million and named it Hampshire II. The yacht is lashed with a wide court that can be adjusted accordingly for games like football, basketball, and tennis.
Jim Ratcliffe Investment In Sports
Ratcliffe ventured into the world of sports with the acquisition of FC Lausanne-Sport, a Swiss football club that plays in the top tier of the domestic league. Soon Ratcliffe announced a new stadium for the club. This was followed by a series of acquisitions in different sports.
Three years ago, he acquired six-time Tour de France winners Team Sky, and rebranded it as Team Ineos. Since the acquisition, the team has managed multiple podium-finish in prestigious events like Tour de France and Giro d’Italia.
Ratcliffe expanded his sports portfolio by completing a €100m takeover of the French club OGC Nice. Soon after the acquisition, he appointed Christophe Galtier, the title-winning coach with Lille, as the manager. Last season, Nice finished fifth in the points table to secure a place in European League.
In Ratcliffe, the faltering Manchester United will get someone who knows both the game and the market. In 2019, when asked about taking over Manchester United in the future, he said he wants to have a good run at Nice and understand the dynamics before signing bigger cheques. The Nice experiment has been a great success, and now he wants to achieve the same with a club he has been a lifelong fan of.
Lead Image: FranceInfo
