Sir Jim Ratcliffe celebrated securing a stake in Manchester United as far back as last May at the Monaco Grand Prix – only to realise the deal hadn’t been done
“Sir Jim Ratcliffe, amidst the thrilling atmosphere of the Monaco Grand Prix, prematurely uncorked the champagne in celebration, convinced he had clinched a stake in Manchester United last May.
After a prolonged pursuit, the 71-year-old, who harbored a deep-seated passion for the club since childhood, has now solidified his ownership status by acquiring a significant 27.7% share, granting control of football operations to his esteemed company, Ineos.”
During protracted negotiations, the billionaire contemplated withdrawing from the process. Ratcliffe, whose company is a partial owner of the Mercedes F1 team, believed he had successfully concluded a deal last spring, only to discover otherwise.
Ratcliffe found himself in Monaco, attending the principality’s Grand Prix at the time. Reflecting on the experience, he shared, “The transaction posed significant challenges. We encountered various obstacles along the way, making it quite a tumultuous journey for an extended duration.”
He continued, “From the outset, the Glazers expressed a preference for our proposal over the Qatari option. They remained steadfast in their commitment to us throughout the entire process.”
“That rocky road for a year, has sort of forged a relationship between ourselves and the other shareholders. We’ve all got to know each other. You get to know people better in adversity than when the whole thing is going swimmingly.
Ratcliffe has articulated his aspiration to compete with the likes of City and Liverpool for both domestic and European trophies. However, he also emphasized the need for patience from United supporters, indicating that it will likely take two to three seasons, at the very least, for Ineos to steer the club toward his envisioned heights.
In the long run, he aims to collaborate with the public sector to either construct a new £2 billion stadium, aimed at revitalizing the vicinity surrounding Old Trafford. This new facility is envisioned to host England matches and FA Cup finals. Alternatively, Ratcliffe considers the redevelopment of the existing site, estimated to cost £1 billion, as another viable option.