Sir Jim Ratcliffe is looking to sell up and pocket a profit from his investment, but not with Manchester United.
It has been over two years since Sir Jim Ratcliffe completed his minority takeover of Manchester United.
The British billionaire now controls around 29% of United’s shares, but he has been granted full sporting control at Old Trafford, where he has implemented a hierarchy that includes CEO Omar Berrada and sporting director Jason Wilcox.
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However, United is not the only football club owned by Sir Jim Ratcliffe and Ineos. In 2019, he paid £89 million to acquire French club Nice.
It is no secret that Ratcliffe has put Nice up for sale, but it is proving more difficult than he first thought and the takeover demands have now shifted.
Manchester United co-owner and Ineos chief Sir Jim Ratcliffe poses upon his arrival for the 73rd edition of the Red Cross Gala at the Casino in Monte Carlo in 2022.
Photo by VALERY HACHE/AFP via Getty Images
Sir Jim Ratcliffe lowers Nice takeover price
Since taking over at United, Ratcliffe’s net worth has plummeted, and so has United’s stock price.
In France, Ligue 1’s TV deal has collapsed, and Ratcliffe is clearly ready to cash in on his investment.
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However, according to Bloomberg, Ratcliffe has dropped his asking price for Nice as potential buyers have been reluctant to make a bid.
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Ratcliffe was initially seeking £173 million (€200 million) for the club, but he has been forced to shift his demands to a more realistic fee.
Nice are currently 14th in Ligue 1, just six points clear of the relegation zone with no wins in their last five matches. Any hope of qualifying for Europe is already out the window.
What Ratcliffe selling Nice means for Man United
Considering Uefa blocked moves between Nice and United, the Red Devils have hardly been able to take any advantage of Ratcliffe’s multi-club model.
Instead, United have had more success with sister club FC Lausanne, sending youngsters over to gather priceless experience in a first-team environment.
As explained by GRV football finance expert Adam Williams, selling Nice won’t change the ownership picture at Old Trafford.
READ MORE: Sir Jim Ratcliffe would appoint Ineos’ Ruben Amorim successor ‘choice’ if it were not for Man Utd fans, claims Redknapp
The takeover price of Nice would only afford Ratcliffe another two percent of United’s shares.
If Ratcliffe wants a full takeover at United, he would need to buy out the Glazer family. Perhaps the sale of Nice indicates his desire to do that, but so far there has been no movement on that front.
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