Failsworth-born Sir Jim Ratcliffe has seen a branch of his global chemical company, Ineos, record a three-fold profit after announcing his desire to buy Manchester United.
Ineos UK E&P Holdings, part of his Ineos portfolio, tripled its profits in 2021, rising to £474m from a £226m loss the previous annum - a swing of £700m. Revenues also jumped to £515m which has been driven by soaring oil and gas prices, Proactive reports.
The newly released figures come after Ratcliffe made public his wish to take over United from the Glazer family last week. A number of fans are set to take part in another protest against the club’s current owners ahead of Monday night’s Premier League match against Liverpool at Old Trafford.
READ MORE: Sir Jim Ratcliffe confirms he wants to buy United
Anger against the Glazers has heightened after the club’s woeful start to the season, which has seen them lose 2-1 at home to Brighton before last Saturday’s 4-0 humiliation at the hands of Brentford. Supporters feel the way the club has been operated by those at the top is the main reason for the club’s barren trophy spell.
There were credible rumours last week that the Glazers were contemplating selling a minority stake in United. A spokesperson for Ratcliffe confirmed the billionaire would be interested in that buying into the club, with a view of taking full control in the long term.
“If the club is for sale, Jim is definitely a potential buyer,” the spokesperson told The Times. “If something like this was possible, we would be interested in talking with a view to long-term ownership. This is not about the money that has been spent or not spent. Jim is looking at what can be done now and, knowing how important the club is to the city, it feels like the time is right for a reset."
READ MORE:
