Amid mounting financial pressure, Man United stands at a critical juncture. Sir Jim Ratcliffe now faces fierce criticism for his club management and his troubled INEOS chemicals empire.
Two top credit ratings agencies downgraded INEOS’ outlook to “negative.” Debts for the chemicals giant are projected to hit £10 billion this year.
Ratcliffe boosted his stake in Man United to 28.9% by injecting £238 million into the club. This bold financial move has sparked intense debate among fans and industry watchers.
Critics have lambasted the cost-cutting measures at Old Trafford. Meanwhile, New Zealand Rugby prepares legal action after INEOS abruptly exited a five-year sponsorship deal.
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An industry insider contends that INEOS’ financial woes will not impact Man United. He argues that the club remains a vanity project for Ratcliffe—a passion venture distinct from his core business.
Despite five consecutive years of losses, the club recorded a net loss of £370 million over that period. Ratcliffe continues to treat United as a fun project rather than a high-stakes financial operation.
INEOS pointed to challenges linked to the “deindustrialisation of Europe” when it moved to exit its New Zealand Rugby sponsorship. These business struggles have stayed confined to the chemicals empire, leaving the club’s operations unaffected.
Reports suggest Ratcliffe may soon demand additional shares to fund the Old Trafford regeneration project. Ambitious plans, potentially exceeding £2 billion, could see United expand Old Trafford or even build an entirely new stadium.