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Sir Jim Ratcliffe reportedly seeks investment from two of the richest men in the world.
Manchester United co-owner Jim Ratcliffe is allegedly courting investment in the club from two of the richest men in the world, Elon Musk and Jeff Bezos.
Ratcliffe is affluent in his own right and the richest in Britain with his reported $15.8 billion net worth. Through his company INEOS, he used some of that wealth to acquire a 27.7% stake in Manchester United and is now the second largest shareholder at the club after the principal owners, the Glazers family.
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Where do Musk and Bezos come in?
The Red Devils had major problems on and off the pitch; hence, the merger with INEOS in the first place. While the Ratcliffe-led company has made some major investments in the sporting department, with more promised in the January transfer window, there is still a stadium problem.
In the past two seasons, several videos made the rounds on social media of leaking sections at Old Trafford. It confirmed the revealing interview by Cristiano Ronaldo, who claimed the club's facilities were either dilapidated or far from modern standards.
Upgrading or rebuilding the Old Trafford is one of the agendas INEOS stands on, and such an ambitious project costs money. The company is said to be looking for private finance to fund this project for two reasons.
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Firstly, Ratcliffe’s investment in the club's sporting sector last season helped him increase his stake. The Glazers are said to be wary of him spending any more of his own money, which effectively dampens their controlling stake.
Secondly, the proposed real estate is capital intensive, and Ratcliffe, selling the United appeal to the billionaires, desires the financial investment, as the Athletic reports.
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