In a recent statement, new Manchester United co-owner Jim Ratcliffe emphasized that his decision to invest in the English soccer giant wasn’t driven by expectations of financial return. Instead, Ratcliffe asserted that his primary focus lies in achieving success on the field.
Ratcliffe’s remarks follow his completion of a deal to acquire a minority stake in Manchester United, marking a significant step for the British petrochemicals billionaire and INEOS chief executive. Despite the Glazer family maintaining a majority stake in the club since 2005, Ratcliffe’s INEOS Group now holds a 27.7% ownership, with provisions allowing for potential control over soccer operations in the future.
When questioned about the potential return on investment from his expanding sporting ventures by CNBC’s Arabile Gumede, Ratcliffe responded unequivocally, stating, “We’re not driven by ROI in sports investments though. That’s not where we’ve come at it from really.”
Explaining further, Ratcliffe highlighted the personal enjoyment derived from sports investments, especially considering INEOS’s foray into consumer markets like automotive. He underscored the opportunity for brand recognition through sports affiliations, noting, “Through sport, obviously people are getting to know INEOS.”
Regarding his investment in Manchester United, Ratcliffe reiterated his primary motive: “My investment in Manchester United has nothing to do with ROI, I would just like to see Manchester United back to where it should be.” He emphasized a singular focus on enhancing the team’s on-field performance.
As a lifelong supporter of Manchester United, Ratcliffe expressed profound honor in assuming the role of co-owner. However, he acknowledged the challenges facing the club, reflected in a year-to-date stock decline of nearly 25%.
Despite Manchester United’s historical prominence and success, recent years have seen the team struggle to reclaim its former glory, notably marked by a Premier League title drought since 2013. In response to Ratcliffe’s investment, the Manchester United Supporters Trust (MUST) conveyed optimism for the club’s future trajectory.
While acknowledging the uphill journey ahead, MUST embrace Ratcliffe’s commitment to restoring Manchester United’s position atop English and European football. They expressed hope that Ratcliffe’s involvement would mark a pivotal turning point in the club’s journey back to success.
