LONDON – Sir Jim Ratcliffe and his company, INEOS, are celebrating their accomplishment of securing a 27.7 per cent stake in Manchester United after completing their $1.3 billion purchase on Tuesday. As the billionaire spoke to reporters on Wednesday about the acquisition, he expressed his ambitious plans to revive the football club’s glory days both in England and Europe.
Ratcliffe also touched on the challenges and obstacles faced in securing the stake, as well as the long-term vision for the club’s success. In his discussion, he mentioned the importance of setting up a successful structure within the organization and spoke about plans for redeveloping or building a new stadium, which would include seeking funding support from the British state.
Beyond the immediate plans, Ratcliffe also emphasized the need for patience as the club undergoes changes, aiming to regain its competitive edge. He envisioned a three-year plan to achieve significant progress, with the ultimate goal of challenging for the Premier League and the Champions League.
In addition to Ratcliffe’s aspirations for the team’s future, he also addressed concerns about Financial Fair Play regulations, player recruitment, and the potential appointment of Newcastle’s sporting director. Furthermore, the billionaire discussed the need for fan engagement and the importance of the team’s role in the community as a part of the club’s identity.
While the interview encapsulated numerous aspects of the club’s future direction under INEOS ownership, it also touched on Ratcliffe’s personal motivations, his past experiences, and challenges he foresees for the newly acquired stake in the club. Through his candid and extensive conversation, Ratcliffe aimed to provide insights and clarity on the new ownership’s vision for Manchester United.
As the club moves forward with a new leadership structure, it remains to be seen how Ratcliffe’s plans align with the existing operations and culture at Manchester United.