Jim Ratcliffe, the billionaire who acquired a 25% stake in Man Utd, wants to know how the club’s $1.7 billion investment in unsuccessful transfer deals has panned out.
With the purchase of a 25% stake for $1.7 billion, Ratcliffe intends to oversee the football aspect of Man Utd while the Glazer family continues to handle the commercial side. According to The Sun, before finalizing the investment deal, the 71-year-old billionaire requested the leadership to explain the “squandering” of the equivalent amount, which yielded little success since Sir Alex Ferguson’s retirement.
Notable failed transfers for Man Utd include Paul Pogba ($109 million), Antony ($104.5 million), Romelu Lukaku ($91.7 million), Jadon Sancho ($89.2 million), Angel Di Maria ($73 million), Anthony Martial ($54.4 million), and Donny van de Beek ($48.9 million).
Since 2013, Man Utd has not won the Premier League, securing only one FA Cup, two League Cups, and one Europa League title. Under Sir Alex, the “Red Devils” won a total of 28 trophies.
Under manager Erik ten Hag, Man Utd spent $457.2 million. Ratcliffe is believed not to be pursuing the amount spent by the team under the Dutch strategist, as he considers the previous season acceptable for Man Utd, finishing third in the Premier League and winning the League Cup.
Before investing, Ratcliffe discussed restructuring football with co-chairman Joel Glazer several times, including revamping the club’s scouting network and player acquisitions. The current roles of CEO Richard Arnold, Football Director John Murtough, and the newly appointed Director David Harrison may be influenced.
Ratcliffe, originally a chemical engineer turned entrepreneur, founded Ineos in 1998. In 2021, the conglomerate reached a revenue of $65 billion. Ratcliffe currently owns assets worth $19.4 billion and is the second richest person in the United Kingdom.
According to Forbes magazine, Ratcliffe is ranked 67th on the list of the world’s wealthiest people, with a net worth of $18.2 billion. The 71-year-old billionaire also owns football clubs Nice (France), Lausanne (Switzerland), the Ineos Grenadiers cycling team, and a one-third stake in the Mercedes F1 racing team.
