Sir Jim Ratcliffe
Image Credits: Getty Images
As a person with immense financial clout, Sir Jim Ratcliffe has likely been in a legal battle or two in his illustrious career.
The co-owner of Manchester United Football Club is one of the wealthiest men in Britain and has an estimated value of £17.05bn.
That’s a pretty penny or two in anyone’s books.
But with more money come more problems.
And that situation is amplified further when you’re the figurehead of a globally renowned and loved organisation like Manchester United.
Since investing in the club, Sir Jim has been on a cost-cutting exercise not only within the club but also on his own sporting ventures.
INEOS, the business where Sir Jim Ratcliffe made his name, announced their decision to pull back funding from New Zealand rugby.
In return, INEOS were sued by the All Blacks.
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That case was eventually settled out of court, but the legal issues with other sporting entities hasn’t stopped for INEOS.
In February this year, INEOS were looking to end their current sponsorship agreement with English Premier League side Tottenham Hotspur.
Spurs didn’t take too kindly to this and decided to sue INEOS for breaking their agreement early.
And there’s been a new development on that particular case.
Fan site Tottenham Hotspur News has now reported that Spurs are likely to settle out of court on the case with INEOS.
This would follow the pattern that took place with New Zealand Rugby.
At the time that it was revealed that INEOS would end their deal with Tottenham Hotspur, it was also believed that they would pay a fee worth a few million to the English Premier League side.
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Yet, it was revealed yesterday that Spurs have still taken INEOS and Sir Jim Ratcliffe to court over the matter.
Despite that move, Tottenham News state that a source within football finance told them that another fee would likely settle this out of court.
However, at this stage it’s impossible to predict what that value is going to be.
INEOS will be hoping it doesn’t cost them too much.
This is not the only battle currently being waged between the two clubs.
Tottenham Hotspur have made a £70m bid for Bryan Mbuemo as they look to beat Manchester United to his signature.
United have made Mbuemo one of their key summer targets, while Spurs are looking to hijack the move and reconnect him with his old manager Thomas Frank.
MUFC fans won’t mind too much if Spurs get one over INEOS in their legal case as long as United can bring Bryan Mbuemo to Old Trafford this summer.
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