Premier League clubs didn’t offer billionaire Jim right value
HE’S Britain’s richest man but Sir Jim Ratcliffe has turned his back on the chance of buying one of the Premier League’s big clubs – for now at least.
Even with a fortune believed to be around £20billion, the 66-year-old self-confessed Manchester United fan has kept his cash safely in his pocket after discussions with a number of clubs, including his Old Trafford boyhood favourites, Chelsea and Newcastle United.
Instead he has opted to invest £90m in French side Nice, while still maintaining an interest in Swiss outfit Lausanne.
Good news for Nice boss Patrick Vieira. Bad news for Manchester United fans desperate to get rid of the Glazers, and the Toon army who are in revolt over Mike Ashley.
As for his Chelsea interest, the initial negotiations with Roman Abramovich (below) ended without any bid, Ratcliffe being put off by the £2.5billion asking price.
But those close to the man, who started life in a council house in Greater Manchester, insist they haven’t ruled out Ratcliffe eventually making an impact with a club in this country.
A business confidante said: “Jim is a huge supporter of businesses in this country and was genuinely interested in buying a leading Premier
League club.
“At the same time he wants value for money and after considering the cost involved and the necessary investment he chose Nice ahead of Premier League clubs he was in negotiations with.”
Ratcliffe has already proved in other areas of sport and business that he makes his money talk.
His petrochemical company Ineos, which he formed in 1998, took over the hugely successful cycling team originally known as Team Sky, and is backing Kenyan athlete Eliud Kipchoge’s attempt to break the twohour barrier for the marathon.
Ratcliffe also invested heavily in Britain’s America’s Cup challenge last year. Last week he was in the business news, for giving the green light to build a new 4x4 vehicle at Bridgend, bringing jobs to an area shortly to be blighted with the scheduled closure of Ford’s engine plant next year.
Football remains close to his heart. He was brought up as a Manchester United fan but after moving to London became a Chelsea season-ticket holder.
Ratcliffe confessed earlier in the year: “I’m a tortured Manchester United fan. But let’s not go there!”
Insiders report that he was very disappointed not to seal a deal for a Premier League club, after warming to the idea earlier in the year, with United and Chelsea both on his radar.
One source said: “He’s a successful businessman and won’t throw his money around just for effect.”
The Premier League’s loss is the French top flight’s gain with Ratcliffe prepared to bankroll a realistic bid by Nice to challenge the likes of Paris Saint-Germain and Lyon for the Ligue One title. Admitting that he had looked at several clubs at home and abroad before settling on Nice, Ratcliffe said: “We looked at a number of clubs in the manner we looked at businesses in Ineos – for value and potential – and Nice fulfilled that criteria.
“We are not prepared to be rash and stupid. It has to be a sound business model.
“Clubs need to be successful off the pitch as well as on it and Nice will be no different.
“It’s been quite a long journey getting here, but hopefully worth it.
“With some sensible, measured investment we want to establish Nice as a side that competes in European competition on a regular basis.”
Investment in the south of France ties in with his great love of cycling – next year’s
Tour de France starts in Nice.
Sadly for any
English clubs in the market for a slice of his billions it’s a case of ‘on your bike’.