The Times Reports Ineos Founder Wants Stake in Man Utd
The Times has reported that Ineos founder and chairman Jim Ratcliffe wants to buy a stake in Manchester United football club.
“If the club is for sale, Jim is definitely a potential buyer,” a spokesman for Ratcliffe was quoted as saying in The Times report.
Ineos already owns French Ligue One side OGC Nice and Swiss Super League side FC Lausanne-Sport and works with partner club Racing Club Abidjan of Ivory Coast Ligue One, according to its website.
“The ambition is to have successful and sustainable football clubs with success in their respective leagues with the ability to reach European competition,” the Ineos website states.
“At the same time it is expected that whilst the clubs are run federally like any other Ineos business they will work together to optimize opportunities. This can be expected to encompass; scouting, player assessment and acquisitions as well as medical and fitness,” the site adds.
Ineos is a global petrochemicals manufacturer which operates 194 sites across 29 countries, generates $61 billion annually and employs over 26,000 people, its site notes.
Ratcliffe began his career at Exxon Chemicals where he completed his MBA at the London Business School. He moved to Courtaulds and in 1992 led the successful buyout of Inspec Group plc before leaving in 1998 to acquire Ineos plc from Inspec. He has been chairman of Ineos ever since. The Ineos chairman’s net worth is $12.5 billion at the time of writing, according to Forbes.
Earlier this week, Elon Musk joked that he was buying Manchester United FC.
Also, I’m buying Manchester United ur welcome— Elon Musk (@elonmusk) August 17, 2022
No, this is a long-running joke on Twitter. I’m not buying any sports teams.— Elon Musk (@elonmusk) August 17, 2022
Manchester United is currently 20th in the Premier League. The team has lost its opening two games to Brighton and Brentford.
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