Billionaire ends investor haggle at ManUnited
He already owns the French soccer club OGC Nice and makes other sports investments, and now the English billionaire Jim Ratcliffe is also getting involved in Manchester United. His investment of more than one billion euros ends a long back-and-forth at the English soccer record champions.
After a long back and forth, English billionaire Jim Ratcliffe has joined Manchester United as an investor. The announcement was made on Christmas Eve by England's beleaguered record soccer champions. The 71-year-old will take over up to 25 percent of the shares and thus also responsibility for the sporting side of the business. According to the BBC, Ratcliffe is to pay just over 1.4 billion US dollars (around 1.18 billion euros).
In addition, Ratcliffe, head of the chemical company Ineos, is investing a further 300 million US dollars in the Old Trafford stadium. However, the majority shareholder remains the Glazer family from the USA, who are highly controversial among Red Devils fans. "Sir Jim and Ineos bring a wealth of commercial experience as well as significant financial contributions to the club," said Avram Glazer and Joel Glazer from the United board. The agreement must still be approved by the Premier League, among others.
In mid-October, a consortium from Qatar led by Sheikh Jassim Bin Hamad Al Thani withdrew its multi-billion purchase offer for the entire takeover of the shares. More than a year after the Glazers officially announced their intention to sell the club, only Ratcliffe and Ineos remained as investors. "As a local lad and lifelong supporter of the club, I'm delighted with the deal," said Ratcliffe, who hails from Failsworth in the Manchester area: "There are a lot of challenges and hard work ahead." The club's commercial success has always allowed it to win trophies at the highest level. However, this potential has not been fully exploited in recent times.
Ratcliffe also owns France club
Ineos has long been a household name for sports fans. In cycling, the chemical company is the main owner of the Ineos Grenadiers racing team. Ratcliffe and his company are also active in sailing. In soccer, Ineos has invested in FC Lausanne-Sport (Switzerland) and OGC Nice, where Ratcliffe owns 100 percent of the shares.
The possibility of Ratcliffe acquiring further shares in Man United is not ruled out. In this case, a possible complete sale of Nice is on the table, for which Ratcliffe is apparently demanding 90 million euros.
Manchester United are in danger of missing out on the Champions League this season. With 28 points, the Red Devils are only in eighth place in the Premier League and are already eight points behind. Coach Erik ten Hag's team was already eliminated from the top flight after the group stage - partly due to the recent 1-0 defeat to FC Bayern Munich.
Read also:
- NFL kicker out injured, then something unbelievable happens!
- Taylor Swift talks about love for her NFL star
- Crazy victory in the NFL top game
- NFL star breaks referee's leg
Following his investment in OGC Nice and other sports ventures, the English billionaire Jim Ratcliffe has now also become an investor in Manchester United, ending a lengthy negotiation period at the Premier League giants. This new investment sees Ratcliffe purchasing a significant portion of the club, further bolstering his presence in the world of soccer.
As a renowned figure in both the chemical industry (through Ineos) and the soccer world, Jim Ratcliffe's investment in Manchester United marks another significant step in his pursuit of growing his soccer portfolio, which currently includes stakes in French club OGC Nice and Swiss side FC Lausanne-Sport.
Source: www.ntv.de
