Sir Jim Ratcliffe came close to buying Premier League rivals Chelsea twice before pulling out for the same reason he now has to tackle at Manchester United
British INEOS Group chairman Sir Jim Ratcliffe looks on prior to the French L1 football match between OGC Nice (OGCN) and Paris Saint-Germain (PSG) at "Allianz Riviera" stadium in Nice
Sir Jim Ratcliffe failed with two attempts to purchase Chelsea long before his partial takeover of Manchester United(Image: VALERY HACHE/AFP via Getty Images)
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Manchester United co-owner Sir Jim Ratcliffe twice explored buying Premier League rivals Chelsea before eventually investing in the former. The INEOS billionaire is expected at Stamford Bridge on Saturday to watch his club take on the Blues.
The prospect of an expensive redevelopment of Stamford Bridge was a major sticking point in his initial interest. Chelsea's stadium requirements added a significant financial burden to any potential takeover of the west London club.
Ratcliffe first pursued a deal for Chelsea between 2018 and 2019, while Roman Abramovich still owned the club. He returned to the picture in 2022 when the oligarch was forced to sell due to ties in Russia following its invasion of Ukraine.
The financial calculations proved more favourable to Ratcliffe and his business partner brother, Bob, by the time that second approach materialised in 2022. The British industrialist saw a late bid valued at £2.5billion (alongside a pledge to inject a further £1.75bn) 'rejected out of hand' before Todd Boehly ultimately completed his own acquisition.
"We spent quite a lot of time looking at Premier League clubs and their valuations," said Bob Ratcliffe during a 2019 appearance on BBC Radio 5 Live. "It was difficult to rationalise purchases in the Premier League for us. If you look below the top six, they are all £150m and above.
"I think the foreseeable future it is off the radar. We have a three to five year project in Nice and that will keep us busy. There was some early exchange [with Chelsea] but we were a significant way apart on valuations.
British INEOS Group chairman Jim Ratcliffe poses upon his arrival for the 73rd edition of the Red Cross Gala at the Casino in Monte Carlo on July 18, 2022
United co-owner Ratcliffe has held a season ticket at Stamford Bridge in the past(Image: VALERY HACHE/AFP via Getty Images)
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"The issue with Chelsea is its stadium. We are all getting older and it is a decade of your life to resolve that."
It's rather ironic INEOS ultimately acquired United considering their stadium challenges are arguably far more substantial than Chelsea's. Furthermore, upgrading the Carrington training complex was an immediate priority for the new investors once they assumed control of operations.
Supporters have repeatedly condemned the declining state of Old Trafford, which has been plagued by leaks and other problems in recent years. United are now progressing with plans to break ground on a new 100,000-capacity stadium that could exceed £2billion in costs.
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Despite being a self-confessed United supporter, Ratcliffe has maintained a season ticket at Stamford Bridge for some years. This suggests a degree of affection for the west London outfit, too, although his passion for the Manchester giants appears considerably greater.
His conviction is such that he is prepared to shoulder a considerable financial burden in a bid to restore the club to what he believes is its rightful standing. Elsewhere, questions persist over Chelsea's intentions regarding a potential move to a larger ground, a step widely regarded as pivotal to the club's future development.