Jim Ratcliffe looks to buy Manchester United. See who is he

By Smith On Jan 19, 2023

British billionaire Sir Jim Ratcliffe has made a bid to buy football club Manchester United. He had also supported the club as a boy.

Ratcliffe has a reported net worth of £12.5 billion. The 70-year-old runs a successful global chemical company Ineos. The firm has enjoyed exponential growth since it was founded by him in 1998.

Ratcliffe has been chairman of the company for a long time and seen it grow from 400 employees to 26,000 people. It has an annual revenue of around £52.5 billion.

Over the years, the interests of Ineos have diversified to incorporate consumer brands and sports interests.

Ratcliffe, who was born in Failsworth in 1952, spent the first 10 years of life in the Greater Manchester town and developed a “quite deep-rooted” passion for the football club.

Ratcliffe studied chemical engineering at Birmingham University and did MBA from London Business School.

Huge £186m transfer offer for Cristiano Ronaldo, that will see him play into his 40s

A Massive Offer

In his search for his next club, former Manchester United striker Cristiano Ronaldo is said to have received a massive transfer offer from Saudi club Al-Nassr.

Ronaldo’s Statement

The Portuguese only recently left Old Trafford after the Red Devils and he mutually agreed to end the remaining terms of his contract as a result of his explosive interview with Piers Morgan. “Following negotiations with Manchester United, we have mutually agreed to finish our contract early,” the 37-year-old said in a statement. I adore Manchester United and the supporters, and that won’t ever change. But now seems like the perfect time for me to look for a fresh challenge. I wish the team the best of luck moving forward and for the rest of the season.

What’s happening at Qatar

Throughout the next stages of the World Cup in Qatar, he will undoubtedly be attempting to entice potential employers with his advances. Given that sources indicate that a sizable offer has already been made to his agent Jorge Mendes, it looks that he has already done that.

Terms of the contract

According to CBS, the veteran would be able to play into his early 40s on a three-year contract from Saudi club Al-Nassr. Accordingly, Ronaldo may make more than £186 million over the course of the contract.

Where does the offer stand

Talks are supposedly ‘relatively advanced’ since contact between Al-Nassr and the striker’s representation reportedly began in the summer when he made his original wish to leave Manchester United. Now it is up to Ronaldo to decide if he accepts the offer—the only one that is currently on the table—or waits for more interest.

Before moving to Courtaulds, he began his career at Exxon Chemicals. In 1992, he led the buyout of Inspec Group plc. He also mortgaged his house to complete the deal.

Six years later, he went on to buy a plant in Antwerp, Belgium from Inspec for £84 million. This helped him to form Ineos. The firm has become a chemical giant now.

Ratcliffe also got knighthood in 2018 for his services to business and investment. In recent years, his company has formed a varied sporting portfolio.

Sir Ben Ainslie-led Ineos Britannia is Challenger of Record for 37th America’s Cup while Ineos Grenadiers is a professional cycling team.

Ineos is Mercedes Formula One team’s principal partner and New Zealand rugby union teams’ performance partner.

FAQs

When was Jim Ratcliffe born?
Jim Ratcliffe was born in Failsworth in 1952.
Why is Jim Ratcliffe trying to buy Manchester United?
Jim Ratcliffe is a lifelong Manchester United fan and has expressed interest in buying the club, which he has referred to as his boyhood club.

Disclaimer Statement: This content is authored by an external agency. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). ET does not guarantee, vouch for or endorse any of its contents nor is responsible for them in any manner whatsoever. Please take all steps necessary to ascertain that any information and content provided is correct, updated, and verified. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein.

For all the latest world News Click Here

Read original article here

Denial of responsibility! TechAI is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.