Jim Ratcliffe – boyhood fan who has bought 27.7% of Man United

Sir Jim Ratcliffe has become part owner of Manchester United as one of the UK’s richest men has bought a 27.7 per cent stake in the club he supported as a boy.

The billionaire bought a share in the Old Trafford club in a long and drawn-out process after Sheikh Jassim bin Hamad Al Thani withdrew his early interest in buying the club outright.

The 71-year-old has a reported net worth of £12.5 billion thanks to the success of global chemical company Ineos, which has enjoyed exponential growth since he founded it in 1998, and will assume delegated responsibility for the club’s football operations. He will also invest an additional $300 million (€277 million) into the club’s infrastructure.

Manchester United is pleased to confirm that Sir Jim Ratcliffe has completed his 27.7% acquisition of the club, following approval of all conditions, including the FA and the Premier League.#MUFC

— Manchester United (@ManUtd) February 20, 2024

Ratcliffe has been chair throughout and has seen the company go from 400 employees to 26,000 and annual revenues of around £52.5 billion.

Ineos has diversified its interests over the years to incorporate consumer brands and sports interests, which now includes the club Ratcliffe grew up supporting.

Born in Failsworth in 1952, a “quite deep-rooted” passion for United grew as he spent the first 10 years of his life in the Greater Manchester town.

Ratcliffe’s family eventually moved to Hull before he went onto to study chemical engineering at Birmingham University, then gain an MBA from London Business School.

He began his career at Exxon Chemicals before moving to Courtaulds and in 1992 led the buyout of Inspec Group plc, mortgaging his house to help complete that deal.

Six years on, he bought a plant