In a conversation with Man Utd employees on January 4, billionaire Jim Ratcliffe declared he was not interested in making money from a $1.6 billion investment.
According to British media, Ratcliffe said that he wants to measure success by sports titles and wants every member to focus maximally on this goal.
Ratcliffe also confirmed that he will make major improvements at Old Trafford and the Carrington training center. The 71-year-old billionaire also said that the additional funding of 300 million USD is just the beginning, and pledged to continue investing heavily in Man Utd.
Ratcliffe emphasized that Man Utd has failed in the past decade. After joining the executive team, he and INEOS Group wanted to bring success by creating an environment of excellence. Ratcliffe affirmed that Man Utd needs to adequately solve the problems that make the team’s achievements not commensurate with other big clubs in Europe with similar budgets, otherwise the old situation will repeat.
Ratcliffe’s talk received applause from the staff. Some people believe that the new owner has been “straightforward” and “honest” about the problems that have plagued the club for many years. While majority shareholder Joel Glazer has never spoken directly to a large number of staff since taking over the club in 2005, Ratcliffe’s presence and the message he conveyed have been “invigorating”. ” to the staff.
Ratcliffe’s frank assessment of sports in the post-Alex Ferguson era is also in stark contrast to the assessments of previous leaders. In September, former General Director Richard Arnold told employees that Man Utd was “progressing and approaching” the level of Man City, the team that won the treble last season.
Joining Ratcliffe on stage was Dave Brailsford, Sports Director of INEOS Group. This manager emphasizes abstract terms rather than philosophy, but still leaves a good impression.
Brailsford began his job at Man Utd with a visit to Carrington on New Year’s Eve, the day after the team lost 1-2 to Nottingham Forest in the Premier League. He also spoke to players as well as staff in many different areas.
On January 3, Ratcliffe and Brailsford spoke with Erik Ten Hag, a meeting that the Dutch coach described as very positive. “We sat together for many hours and had the same perspective on many issues,” Ten Hag added. “This was a very constructive meeting and we look forward to working together.”
On December 24, after nearly a year of negotiations between the Glazer family and investors, Man Utd announced an agreement with Ratcliffe. The British billionaire will spend 1.3 billion USD to buy 25% of shares and invest an additional 300 million in club operations. The investment is awaiting approval from the Premier League Organizing Committee in about six weeks.
After buying a 25% stake, Ratcliffe will hold the sports segment, while the Glazer family will still hold the majority stake and the commercial segment. The British billionaire and his colleagues at INEOS Group, including Brailsford, Jean-Claude Blanc and Rob Nevin, will participate in direct management, contrary to the Glazer family’s American way of operating.
Ratcliffe is the founder, Chairman and CEO of INEOS petrochemical corporation. According to Forbes magazine, the 71-year-old British businessman currently owns assets worth $23.7 billion.
Since former coach Alex Ferguson retired in 2013, Man Utd has not regained the Premier League and Champions League. Meanwhile, competitors are making great strides. Over the past 10 years, Man City has won six Premier Leagues and one Champions League. Liverpool returned to the top of the foggy country after 30 years of nothing and won their sixth C1/Champions League Cup, more than double Man Utd’s achievement.