Jim Ratcliffe, the founder of Ineos and one of Britain's richest businessmen is set to buy a chunk of Manchester United.
Yet, the 70-year Mancunian billionaire is only grabbing 25% of the club, leaving the Glazer family at the helm, despite having come under sustained criticism over the years for how they've run the United.
Although the deal may not be what fans of the Red Devils would have hoped for, the US$1.25 billion purchase sees the club valued at US$6 billion and could bring with it some much-needed refurbishments, improved fan sentiment and even more importantly better quality on the pitch.
Who is Jim Ratcliffe
Born in Yorkshire and initially growing up in a council house, Ratcliffe made his fortune in the chemicals industry, snapping up orphaned petrochemical plants from giants like BP.
Forming Ineos in the late 90s, the businessman has built one of the world's largest chemical companies, which has since delved into other industries including fashion with the Belstaff brand and the automotive world with the Grenadier brand, which builds 4x4s.
Already having experience in the sports industry, Ineos owns football teams OGC Nice and Lausanne-Sport as well as having created its own cycling team and sponsoring the All Blacks rugby team and the Mercedes F1 group.
Ineos Grenadiers cycling team Source: Eurosport
Ratcliffe and Ineos' decision to go for the Manchester outfit was initially a U-turn from earlier this year, where a spokesperson said the businessman would not be buying “any top tier Premier League Club” after Man U's rival Liverpool was put on the market by American owner Fenway Sports Group (FSG).
When Chelsea was put up for sale in late 2020, Ratcliffe's name emerged as a contender, but similarly to Liverpool, the shale gas boss wasn't successful after putting his name into the fray too late.
Why Manchester United?
One reason is clear. He's a United fan.
Ratcliffe has been open about his adoration of the former European treble winners in the past and has spoken of his wishes to buy the club.
Earlier this year, he spoke about his conversation with the Glazers, who at the time weren’t open to selling but might have entertained some form of investment, and although Ratcliffe was believed to want the whole pie rather than a slice, it was clearly the start of a fruitful relationship.
Ratcliffe at OGC Nice Source: Football365
While he baulked at the chance to buy Liverpool, were his beloved Manchester United ever to come onto the market it was always likely he would throw his name into the hat.
So, there was no change of heart. The right opportunity just came up.
What to expect should the deal go through?
Ever since business hooked its claws into football, fans have yearned for their teams to be run like clubs rather than companies, with the priority being on-pitch success rather than balancing the financial books.
With Ratcliffe, the Old Trafford faithful will hope to be getting what they wished for, the influence of a fan and one of their own at the club, although the change is slightly checkered by the fact most changes will require approval from the Glazers.
Conrad Wiacek, a sports analyst at GlobalData, believes funding will be the key requirement for the club should Ratcliffe build a stake.
“I think if you want it to be a success, you have to invest,” said Wiacek.
“Old Trafford is in need of investment, the training ground is in need of investment, the team is in need of investment, so in short term, spending will be needed on the club.”
In need of desperate repair Source: The Sun
However, that isn’t to say that on-pitch success would come at the cost of losing its status as a commercial powerhouse.
Quite the opposite, in fact.
Adding to its trophy-laden cabinet would in fact help drive its commercial prowess, especially when you consider the team sits mid-table in the Premier League.
Clubs are often also rewarded financially for how far they go in competitions, such as the lucrative Champions League.
A higher league position also entitles them to a larger slice of the TV rights pie, which year-on-year grows as demand for the Premier League globally shows no signs of slowing down.
Ratcliffe’s emotional attachment to the club should make trophies the ultimate priority.
With that being said, Ratcliffe's success isn't driven by emotion.
Ultimately, he will see value in United that he feels he can extract, while also achieving footballing success.
“A businessman, no matter what stripe, no matter their funding, no matter their desire to own a football, ultimately, would want to make some money out of it,” said Wiacek.
Current manager Erik Ten Hag is reportedly in Ratcliffe's plans should he take a share of the club, but it is still yet to be seen how much influence the INEOS boss will have on the club.
United have struggled on and off the pitch this season Source: Arsenal FC
Final thoughts
Ratcliffe in charge of United will feel like fans have one of their own in the hot seat, and they would hope he would lead the club as such.
However, it will change very little should the Glazers use their majority control to keep running the club in the same way it has been.
Most fans were likely hoping United's other bidder, Sheikh Jassim, who was aiming to buy the whole club, was accepted, with the potential of increased spending in the transfer market and stadium refurbishments very difficult not to get excited about.
However, should Ratcliffe be successful and be able to develop some control at the club, Old Trafford can once again become the Theatre of Dreams.