INEOS, the corporate owned by Jim Ratcliffe, a British billionaire and long-time Manchester United fan, has formally entered the bidding course of to purchase the Premier League soccer membership.
WHO IS JIM RATCLIFFE AND WHAT IS HIS NET WORTH?
Jim Ratcliffe, 70, was born in Failsworth in Higher Manchester.
He based the INEOS chemical substances group in 1998 and is the corporate’s chairman and chief government officer with a two-thirds stake.
In keeping with Forbes, he has a web price of $15.5 billion, making him the 112th-richest particular person on this planet and one in all Britain’s most rich businessmen.
Ratcliffe is the primary potential bidder to publicly declare an curiosity in buying Manchester United.
In August, Reuters reported that Ratcliffe had expressed an curiosity in shopping for United.
Final 12 months, Ratcliffe failed in an try to purchase London soccer membership Chelsea, which was bought by an funding group led by American Todd Boehly and Clearlake Capital.
WHAT DOES INEOS MAKE?
INEOS Group Restricted is a British multinational chemical substances firm headquartered and registered in London.
The identify INEOS was derived from INspec Ethylene Oxide and Specialities, a earlier identify of the enterprise.
As of 2021, it’s the fourth-largest chemical firm on this planet.
The BBC reported INEOS generates gross sales of round 50 billion kilos ($62 billion) and employs greater than 26,000 folks.
In keeping with the corporate’s web site, INEOS contains 36 companies with 194 websites in 29 international locations all through the world and likewise encompasses shopper manufacturers and sports activities pursuits.
Its uncooked supplies are utilized in packaging for toiletries, medicines and meals, cellphones and furnishings.
HAS INEOS INVESTED IN SPORTS BEFORE?
The chemical agency has for a very long time been concerned on this planet of sports activities, with hyperlinks to System One, biking, crusing, soccer and rugby.
INEOS is the principal companion to eight-times F1 champions Mercedes and a one-third shareholder of the staff which is owned in three equal components by Mercedes-Benz Group AG, INEOS and Toto Wolff.
INEOS owns French Ligue 1 membership Good, Swiss Tremendous League aspect FC Lausanne-Sport and works with companion membership Racing Membership Abidjan of Ivory Coast Ligue One.
The corporate is the official efficiency companion to the New Zealand rugby nationwide staff, who’re popularly often known as the All Blacks.
Their sporting portfolio additionally contains the INEOS Grenadiers, one of many world’s most profitable biking groups.
WHO ELSE IS BIDDING FOR MANCHESTER UNITED?
The Glazers, United’s U.S. homeowners, mentioned in November that they had begun taking a look at choices for the 20-times English champions, together with new funding or a possible sale, 17 years after they purchased the Previous Trafford membership.
Saudia Arabia sports activities minister Prince Abdulaziz bin Turki Al-Faisal confirmed to Sky Sports activities his nation’s intention of taking on United.
Bloomberg Information reported this week that United, Tottenham Hotspur or Liverpool had been being focused by Qatar Sports activities Investments (QSI) for a possible acquisition.
Spurs, nonetheless, mentioned: “there isn’t a fact in studies {that a} assembly came about concerning the sale of fairness within the membership”.
QSI is at the moment the proprietor of French champions Paris St Germain and has a stake in Portuguese soccer membership SC Braga.