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    Sir Jim Ratcliffe’s other project slowly going backwards as Man Utd shareholder shifts all focus on Old Trafford job

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    SIR JIM RATCLIFFE has seen one of his other sporting projects go backwards after switching his focus to Manchester United.The British billionaire is working to overhaul the Red Devils’ football structure with redeveloping Old Trafford amongst his priorities.Sir Jim Ratcliffe has seen another of his sporting projects go backwards since his arrival at Manchester UnitedCredit: APThe British billionaire is working to overhaul United after purchasing a minority stakeCredit: AlamyHe became co-owner of the club in February after purchasing a minority stake from the Glazers.However, another team in his Ineos Sport empire has seen their decline in performance accelerate in recent months.Ratcliffe, who has a net worth of £12.5billion, is hoping to return United to the top of English football after 11 years without a league title.Part of his overhaul has seen the arrival of Dan Ashworth as sporting director, Omar Berrada joining from rivals Manchester City as chief executive and the appointment of Jason Wilcox as technical director.READ MORE ON MAN UTDMeanwhile, he hopes to turn the club’s home stadium into the “Wembley of the North”, with plans to demolish and rebuild Old Trafford.Ratcliffe has even hired the architects behind the Lusail Stadium, which hosted the 2022 World Cup final, for the project.A first set of pictures of the potential new Old Trafford site were revealed this week.His cycling team, Ineos Grenadiers, are going in the opposite direction, though.Most read in CyclingFOOTBALL FREE BETS AND SIGN UP DEALSRatcliffe purchased the outfit in 2019 after they had won the Tour de France six times in seven years as Team Sky.Those victories were followed by a seventh under Ineos’ ownership later that year to become the most successful team in Tour de France history.Man Utd player ratings: Joshua Zirkzee hooked again as Lisandro Martinez saves Erik ten Hag’s blushes (2)What we know about the ‘new’ Old TraffordMANCHESTER UNITED plan to build a new stadium rather than redevelop Old Trafford.The decision was made after a number of fact-finding missions to other stadiums including the Bernabeu and Nou Camp.The cost of the project is expected to be a staggering £2billion.A capacity of 100,000 is expected.It is felt that a club of United’s standing should have a new state-of-the-art facility.The new stadium will be built on land adjacent to the Red Devils’ current home.United are looking to not only build a stadium but regenerate the area of Trafford where the ground will stand.There had been plans to KEEP Old Trafford rather than demolish it, and use it as a scaled down second venue.However, it’s looking increasing likely that it will in fact be entirely demolished.The club consulted with 30,000 fans about what to do and believe there is roughly a 50-50 split on staying or moving.The club have appointed the architects Foster + Partners to come up with a “masterplan”. The company were behind Wembley Stadium.Old Trafford has been United’s home since 1910.The target is for completion by 2030. Team principal Sir Dave Brailsford has since become a key figure in Ineos’ sporting empire, which also includes the Mercedes F1 team, America’s Cup challengers Ineos Brittania and football clubs Nice and Lausanne-Sport.However, he has stepped away from the cycling team he originally founded to help rebuild United alongside chief executive of Ineos Sport Jean-Claude Blanc.As a result, the Grenadiers’ downfall has accelerated, having not competed for a yellow jersey in each of the five Le Tours since their last victory.Sir Dave Brailsford has followed Ratcliffe to Old Trafford as Ineos’ director of sportCredit: GettyThe Ineos Grenadiers cycling team have seen performances decline in 2024Credit: PAMeanwhile, their 30 riders have picked up just 14 race wins in 2024, less than this year’s Tour de France winner Tadej Pogacar has on his own with 21.His team, UAE Emirates, have won 72 altogether, with The Times reporting the best riders no longer want to join Ineos Grenadiers.This is shown by Brailsford’s failure to lure Pogacar away from UAE Emirates before he left the cycling team to become Ineos’ director of sport.As Pogacar claimed his third yellow jersey in four years this summer, Ineos’ best performer Carlos Rodriguez was back in seventh.Egan Bernal won Ineos’ seventh yellow jersey in 2019 but they have not won it sinceCredit: ReutersBrailsford failed to lure 2024 Tour de France winner Tadej Pogacar to the GrenadiersCredit: AP More

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      Sir Jim Ratcliffe ‘obsessed’ with winning trophy more important to him than Man Utd lifting Premier League

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      MANCHESTER UNITED chief Sir Jim Ratcliffe is determined to win one of the most “elusive” trophies this year.Ratcliffe, 71, took over a 27.7 per cent stake of United back in February in a deal that also saw him take up the reins on all sporting operations at Old Trafford.Manchester United chief Sir Jim Ratcliffe is determined to win the America’s CupCredit: PASir Jim will be hoping to combine his arrival with a trophy in his first year in charge of the Red Devils on May 25 when Erik ten Hag’s side faces rivals Manchester City in the FA Cup final at Wembley.However, the British billionaire has his fingers in a lot of other pies with INEOS who are looking to make history in one of the most historic competitions.Ratcliffe is “obsessed” with winning the America’s Cup, which kicks off on August 22 and runs until October 20.Sky News reporter Rob Harris tweeted: “Sir Jim Ratcliffe is obsessed with trying to win a prize more elusive for Britain than the Premier League trophy for Manchester United.”Read More on Man UtdThe UK has never won the prestigious sailing trophy and the INEOS chief is looking to make history with Britannia, the boat he created in his bid to conquer the competition dubbed the F1 of the oceans.Ratcliffe told Sky News: “Manchester United is another sporting challenge and it’s a very big one obviously, probably one of the biggest ones in the world.”But this, I think for the UK, this is one of the biggest sporting challenges you could find.”Whilst the UK has won just about every international sporting competition there is in the world, the one and only it has never won has been the sailing one.”Most read in FootballRatcliffe has his hands full at United after a hapless campaign that saw the team finishing eighth in the Premier League table.The minority shareholder will have to decide on Ten Hag’s future, who has come under immense scrutiny throughout the campaign.’I’m in a rush,’ Sir Jim Ratcliffe says live on BBC after running London Marathon before Wembley dash to watch Man UtdRaphael Varane has also announced his imminent departure from the club once his contract runs out at the end of the season.More players could follow Varane, such as Anthony Martial whose deal also expires in June.Why Man Utd must win FA Cup
      ERIK TEN HAG says Manchester United must pay back their world-class fans with an FA Cup triumph after their awful league season, writes Tom Barlcay.
      United came eighth which was their lowest-ever finish despite winning 2-0 on the final day at Brighton.
      They also came away from a miserable campaign with a negative goal difference – but still can win a trophy when they take on Manchester City in next week’s cup final.
      The away fans roared themselves hoarse just as they have done all term despite the poor results.
      Boss Ten Hag said: “We have the best fans in the world and I mean this. 
      “I have never had this experience when you have a season like us, which is by far not good enough, that the supporters are with us. 
      “They are with us in the bad season and in bad times they are there. I think also they know why the bad times are there. 
      “But we have to pay them back and we have to do everything to give them a trophy next week but also for the future, we have to perform better.”
      United won thanks to late goals from Diogo Dalot and Rasmus Hojlund.
      But for the second game running, Hojlund began the match on the bench as United opted for a false nine – in a hint over how United will set up in the cup final.
      That was how they played in March’s 3-1 defeat to City at the Etihad in the league, too.
      Ten Hag added: “It’s a luxury problem. Both formations can be a success because we can set up like we did at the Etihad where we were a threat with movement in behind.
      “But of course with Rasmus Hojlund in this form it’s absolutely a consideration and a thought that we have to consider. 
      “You need not only 11 players in a tough final but a bench as well.”
      Hojlund’s tally now stands at 16 goals in his maiden season after the 21-year-old arrived from Atalanta for £72million last summer.
      Reflecting on the Dane’s campaign, Ten Hag observed: “It could always be better but don’t forget he had three injuries this season. 
      “He came in with the injury, missed the start, then he got injured before winter and then he got injured after winter. So every time that broke his rhythm and if you then shoot 16 goals for the first season it’s OK. And it’s not over, we have to play the FA Cup final.” More

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      How Jim Ratcliffe went from council house to astonishing net worth of £30bn – and why he almost risked everything

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      MANCHESTER United investor Jim Ratcliffe went from a council house upbringing to an astonishing net worth of £15billion – after almost risking everything.One of Britain’s richest people grew up on a council estate before amassing a fortune which has just enabled him to take a major stake in Premier League football giants United.
      Sir Jim Ratcliffe has gone from humble beginnings to vast wealthCredit: PA
      His turnaround hinged on taking a gamble in 1998 by mortgaging his home and buying an Antwerp-based chemical company, which he and two friends transformed into Ineos.
      He says he deliberated for a year over whether to go ahead, fearing he and his family could lose their home if the firm failed.
      Sir Jim climbed to second in this year’s Sunday Times Rich List, with his fortune put at £29.688billion.
      Top place went to Indian-born British businessman Gopi Hinduja and his family, with estimated wealth of £35billion.
      Read More On Manchester United
      Sir Jim is looking to finalise a 25 per cent stake in United, with reports suggesting he could invest £245million towards improving the club’s infrastructure.
      His potential plans for the Red Devils have sparked speculation over whether Dutch manager Erik ten Hag could be at risk of losing his job.
      United have lost eight of their 15 matches so far this season, including consecutive 3-0 defeats this past week to Manchester City and Newcastle United.
      An unpromising start in Sir Jim’s life included being sacked from his first job only three days in, when bosses at BP found he had ezcema.
      Most read in Football
      Sir Jim, son of a joiner, was born in the Greater Manchester town of Failsworth and lived in a council home until aged ten.
      The family then moved to Hull in East Yorkshire and he was educated at Beverley Grammar School before studying chemical engineering at the University of Birmingham.
      He now lives in exotic Monaco and owns luxury items such as a £130m yacht named Hampshire II with its own beach club and a helipad.
      He has said: “You should see a picture of the council house where I started out.”
      Sir Jim, now 71, later set up his own company Ineos – a chemicals multinational which employs 26,000 people worldwide.
      It sells 60million tons of chemicals each year, with an annual turnover of £45billion.
      He used high-yield debt to fund deals before buying unwanted operations from groups such as BP, whose refining and petrochemical arm Innovent was snapped up by Ineos in 2006.
      That gave his firm refineries in Belgium, Canada, France, Germany, Italy and Scotland.
      Sir Jim relocated Ineos’ head office to Rolle in Switzerland in 2010 in a move which cut its annual tax bill by £100million.
      Sir Jim has said: “I did have this inkling that I wanted to be successful — that I wanted to be a millionaire one day. But I was just dreaming, really.”
      He also recalled his dismissal by BP when just 21.
      He said: “I was told, ‘You can’t work here with eczema. We can’t spend the money on training you for five years then find you’ve got an allergy, so you’re on your bike’.”
      ‘ORDINARY BACKGROUND’ TO ‘EXTRAORDINARY WEALTH’
      He secured a role with rival petrol giant Esso, who sent him to the London Business School helping him become an expert in turning around failing firms – later prompting his move for Ineos.
      The company has been based since 2016 in offices opposite upmarket store Harrods in Knightsbridge, west London.
      The entrepreneur, on his second marriage and with three children, has homes in London and in Hampshire.
      The boyhood Manchester United supporter revealed an interest in buying the Old Trafford club in January this year after the Red Devils were put up for sale by the US-based Glazer family.
      He faced competition from Qatar’s Sheikh Jassim Bin Hamad Al Thani, looking to bid £5billion – but this remained short of the Glazers’ £6billion valuation.
      The Qatar bid was scrapped last month after their attempts to secure a 100 per cent takeover were resisted by the Glazers.
      Sir Jim previously tried to buy Premier League rivals Chelsea last summer when Russian billionaire Roman Abramovich was forced to sell by sanctions imposed after Russia’s invasion of Ukraine.
      But his £4.25billion bid was rejected, before US investor Todd Boehly and his consortium took charge instead.
      Ineos owns France’s top-flight Ligue 1 club Nice, as well as Swiss side Lausanne and a third of F1 motor racing team Mercedes.
      His Team Ineos cycling team has won seven Tour de France titles, with stars riders such as Sir Bradley Wiggins, Chris Froome and Geraint Thomas.
      Sir Jim was knighted for services to business and investment in the late Queen Elizabeth II’s 2018 Birthday Honours list.
      Rich List compiler Robert Watts has said of him: “This is a guy from an ordinary background who has created extraordinary wealth very quickly. He seems unaffected by the wealth.
      Read More on The Sun
      “He’s calm, quiet and doesn’t have the brashness you might think a billionaire would.
      “Ratcliffe shows you don’t have do well in the classroom or be anything special early in your working life to make it as an entrepreneur.”
      The new Manchester United investor owns a luxury yacht named Hampshire IICredit: YouTube / Feadship
      Sir Jim owns French club Nice, who he watched take on Monaco in April last yearCredit: AFP
      The billionaire led a relaunch of Land Rover Defender in 2017Credit: Jon Bond – The Sun
      Chemicals entrepreneur Sir Jim is on the verge of investing in Manchester UnitedCredit: Reuters More

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      Man Utd fan Sir Jim Ratcliffe launches last-gasp £4.25BILLION bid to buy Chelsea including £1.75bn on team and stadium

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      ONE of Britain’s richest men Sir Jim Ratcliffe has made a late £4.25BILLION bid to buy Chelsea.The London club had whittled down interested parties to three – but now Ratcliffe has added his name into the mix.
      Sir Jim Ratcliffe has launched a sensational £4.25bn bid to buy ChelseaCredit: Times Newspapers Ltd
      Roman Abramovich is believed to want £2.5bn for the club he bought in 2003 – now Ratcliffe has blown that figure out of the water.
      According to The Times, the 69-year-old Ineos chief, who grew up supporting Manchester United, spoke to Chelsea chairman Bruce Buck yesterday.
      It is believed £1.75bn of the offer will be to upgrade the team and stadium.
      A statement read: “Sir Jim Ratcliffe, chairman of Ineos, has made a formal bid for Chelsea FC, for £4.25bn. £2.5bn is committed to the Charitable Trust to support victims of the war, with £1.75bn committed to investment directly into the club over the next 10 years.
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Chelsea.css-1gojmfd{margin-bottom:16px;}.css-gmec1d{display:-webkit-inline-box;display:-webkit-inline-flex;display:-ms-inline-flexbox;display:inline-flex;height:auto;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;-webkit-align-content:center;-ms-flex-line-pack:center;align-content:center;-webkit-box-flex-wrap:nowrap;-webkit-flex-wrap:nowrap;-ms-flex-wrap:nowrap;flex-wrap:nowrap;-webkit-flex-direction:row;-ms-flex-direction:row;flex-direction:row;-webkit-box-pack:start;-ms-flex-pack:start;-webkit-justify-content:flex-start;justify-content:flex-start;margin-left:calc(-20px/2);margin-right:calc(-20px/2);}.css-fh9577{display:-webkit-inline-box;display:-webkit-inline-flex;display:-ms-inline-flexbox;display:inline-flex;margin-left:calc(20px/2);margin-right:calc(20px/2);}.css-65fvqt{max-width:302px;max-height:294px;}.css-1exhbll{box-sizing:border-box;overflow:hidden;background-color:rgba(237,245,242,1);-webkit-text-decoration:none;text-decoration:none;position:relative;display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-flex-direction:column;-ms-flex-direction:column;flex-direction:column;max-width:302px;max-height:294px;}.css-bk55po{box-sizing:border-box;display:block;position:relative;margin-bottom:0;}.css-1shocxe{box-sizing:border-box;}.css-1a2irou{box-sizing:border-box;padding:0;}.css-1a2irou 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      “This is a British bid, for a British club.
      “We believe that a club is bigger than its owners who are temporary custodians of a great tradition. With responsibility to the fans and the community.
      “That is why we are committing to spending £1.75bn over 10 years that will be for the direct benefit of the club.
      “We will invest in Stamford Bridge to make it a world-class stadium, befitting of Chelsea FC.
      “This will be organic and ongoing so that we will not move away from the home of Chelsea and risk losing the support of loyal fans.
      .css-qu9fel{border-top:1px solid #dcdddd;}.css-b9nmbi{margin-bottom:16px;border-top:1px solid #dcdddd;}.css-1qsre5o{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;height:100%;-webkit-align-items:flex-start;-webkit-box-align:flex-start;-ms-flex-align:flex-start;align-items:flex-start;-webkit-align-content:flex-start;-ms-flex-line-pack:flex-start;align-content:flex-start;-webkit-box-flex-wrap:nowrap;-webkit-flex-wrap:nowrap;-ms-flex-wrap:nowrap;flex-wrap:nowrap;-webkit-flex-direction:column;-ms-flex-direction:column;flex-direction:column;-webkit-box-pack:justify;-webkit-justify-content:space-between;justify-content:space-between;}.css-q8gelu{margin-bottom:24px;}.css-7ysxcx{padding:0;text-transform:uppercase;-webkit-text-decoration:none;text-decoration:none;}.css-7ysxcx:hover:not(:disabled){-webkit-text-decoration:none;text-decoration:none;}.css-jkwlot{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;height:100%;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;-webkit-flex-direction:row;-ms-flex-direction:row;flex-direction:row;-webkit-box-pack:justify;-webkit-justify-content:space-between;justify-content:space-between;padding:0;text-transform:uppercase;-webkit-text-decoration:none;text-decoration:none;}.css-jkwlot:hover:not(:disabled){-webkit-text-decoration:none;text-decoration:none;}.css-1x7hydu{font-family:The Sun;font-size:24px;line-height:1.1666666666666667;font-weight:400;letter-spacing:0%;font-stretch:semi-condensed;padding:1px 0px;}.css-1x7hydu::before{content:”;display:block;height:0;width:0;margin-bottom:calc(-0.24520833333333342em + -0.5px);}.css-1x7hydu::after{content:”;display:block;height:0;width:0;margin-top:-0.2333333333333334em;}.css-1lobn43{display:inline;font:inherit;margin:0;color:rgba(0,0,0,1);}.css-1lobn43 svg{fill:rgba(0,0,0,1);}Most read in Football.css-1gojmfd{margin-bottom:16px;}.css-zdjvqv{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;height:100%;-webkit-align-items:flex-start;-webkit-box-align:flex-start;-ms-flex-align:flex-start;align-items:flex-start;-webkit-align-content:flex-start;-ms-flex-line-pack:flex-start;align-content:flex-start;-webkit-box-flex-wrap:nowrap;-webkit-flex-wrap:nowrap;-ms-flex-wrap:nowrap;flex-wrap:nowrap;-webkit-flex-direction:column;-ms-flex-direction:column;flex-direction:column;-webkit-box-pack:space-around;-ms-flex-pack:space-around;-webkit-justify-content:space-around;justify-content:space-around;margin-top:calc(-12px/2);margin-bottom:calc(-12px/2);}.css-zdjvqv:before,.css-zdjvqv:after{content:”;display:block;}.css-1meuhfk{display:-webkit-inline-box;display:-webkit-inline-flex;display:-ms-inline-flexbox;display:inline-flex;margin-top:calc(12px/2);margin-bottom:calc(12px/2);}
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      “We will continue to invest in the team to ensure we have a first class squad of the world’s greatest players, coaches and support staff, in the men’s and women’s games.
      “And we hope to continue to invest in the academy to provide opportunity for talented youngsters to develop into first class players.
      “We believe that London should have a club that reflects the stature of the city. One that is held in the same regard as Real Madrid, Barcelona or Bayern Munich. We intend Chelsea to be that club.
      “We are making this investment as fans of the beautiful game – not as a means to turn a profit. We do that with our core businesses. The club is rooted in its community and its fans. And it is our intention to invest in Chelsea FC for that reason.
      “No further comment will be made from Sir Jim or INEOS during the bidding process.”
      It was also reported that the bids led by Stephen Pagliuca and Sir Martin Broughton were ruled out of the running.
      Ratcliffe is a Stamford Bridge season ticket holder and one of Britain’s richest men, valued at around £6.33bn by The Sunday Times Rich List.
      That is a massive drop from more than £21bn in 2018.
      SunSport revealed his interest in March before he initially decided against submitting an offer – and then came his dramatic U-turn.
      His late bid with Ineos pals Andy Currie and John Reece, sent directly to the Raine Group handling the sale, went in this morning after he held talks with the UK Government, who will sanction the transaction.
      Sir Jim believes he is in a position to hand over the full £4bn as early as this weekend if required.
      An imminent announcement on the successful bidder is expected in the coming days.
      Until this 11th-hour bombshell, the winner looked set to come from the three remaining consortiums.
      The bidders being considered are consortiums led by Todd Boehly, Sir Martin Broughton and Stephen Pagliuca.
      Boehly owns MLB franchise the Los Angeles Dodgers.
      Broughton’s bid is backed by Josh Harris and David Blitzer who co-own Crystal Palace as well as Lord Coe, Lewis Hamilton and Serena Williams.
      Pagliuca co-owns Italian side Atalanta and basketball team the Boston Celtics.
      They are backed by the True Blues, a fan-led group involving Chelsea legend John Terry who want to buy ten per cent of the club.
      But The Telegraph report Pagliuca has been informed he is not the preferred bidder.
      Each bidder was told this week they would need to stump up an extra £500m.
      Ratcliffe – who made his billions in petrochemicals – was linked with taking over Chelsea in 2019.
      But he decided against it at the time because the stadium redevelopment plans would take too long to resolve.
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      The Mancunian has already spent £110million on Ineos Team UK, the America’s Cup sailing team, and rebranded cycling group Team Sky.
      He also bought Swiss football team FC Lausanne-Sport as well as French outfit Nice. More