- Ratcliffe set for minority ownership
- Backed by Mercedes F1 chief
- Praises 'no bullsh*t' approach
WHAT HAPPENED?With the Glazers and United board members expected to vote on Ratcliffe's bid in the coming days, Ratcliffe appears to be in line to receive a 25% minority ownership in United for £1.4 billion. Ratcliffe, a United supporter who was born in Greater Manchester, also owns Nice and the Swiss team Lausanne in addition to having a one-third stake in the Mercedes-AG Petronas Formula One team.
WHAT THEY SAID: Before the US Grand Prix, Toto Wolff, the team principal for Mercedes, provided some insight on working with Ratcliffe: "Jim and his partners, [INEOS chief executive] Andy [Currie] and [finance director] John [Reece], are first of all very complimentary," he said [via Daily Mail].
"This is a no bullsh*t organisation. They are huge in terms of revenue and profit. Decisions are being made quickly – three bullet points on a page and ‘here we go’. With Jim all the bullsh*t is cut out. So I think wherever he gets his power, and his resource and character behind it, that’s going to be an add-on for any team.
"He’s a Manchester boy. He has the resources that are needed, the heart is in the right place for this team and I’m sure he can be very creative for Manchester United. And for us he’s been a fantastic shareholder, good sounding board and sparring partner for myself."
THE BIGGER PICTURE: While it may still be some time before the deal is approved, United's board of directors met on Thursday to examine Ratcliffe's offer. Ineos is reportedly already working on plans to reform the club behind the scenes, including hiring a new sports director.
IN A PHOTO:
GettyWHAT NEXT? In the following days, the Glazers and United board members will vote on Ratcliffe's bid, which would give him a 25% minority ownership in United for £1.4 billion.