Jim Ratcliffe – Manchester United Role, Glazers and Old Trafford Plans

Sir Jim Ratcliffe has become one of the most influential figures at Manchester United since acquiring a minority stake in the club in February 2024. The British billionaire, founder of chemicals group INEOS, took responsibility for the football operation while the Glazer family retained majority voting control.

His involvement has brought major changes to the club’s management, staffing structure and long-term stadium ambitions. One of the most significant proposals is a new 100,000-seat stadium near the existing Old Trafford ground, part of a wider regeneration plan for the surrounding area.

However, Ratcliffe’s position is not the same as that of a full owner. The Glazers remain the controlling shareholders, while INEOS holds a substantial minority interest. That division of ownership and responsibility continues to shape debates about the club’s direction, finances and relationship with supporters.

Ratcliffe’s Manchester United project is therefore about more than football results. It involves a complex ownership structure, an expensive stadium ambition and the challenge of rebuilding confidence among a fanbase that has long opposed the Glazer family’s control.

Who is Sir Jim Ratcliffe?

Sir Jim Ratcliffe

British businessman and INEOS founder

Born: 18 October 1952

Known for: INEOS, Manchester United and sports investments

Sir James Arthur Ratcliffe, commonly known as Jim Ratcliffe, is a British businessman who founded INEOS, one of the world’s major privately owned chemicals companies. He was born in Failsworth, Greater Manchester, and studied chemical engineering at the University of Birmingham before completing an MBA at London Business School.

Ratcliffe began his career in the chemicals industry, working for companies including BP and Courtaulds. He later moved into private equity, gaining experience in buying and restructuring industrial businesses.

In 1998, he founded INEOS after acquiring a chemicals business from the Belgian group Inspec. The company expanded through further acquisitions, developing into an international industrial group with operations across chemicals, energy and manufacturing.

Ratcliffe’s business approach has involved buying industrial assets, improving their operations and expanding through acquisitions. INEOS now has interests across several sectors, including petrochemicals, automotive manufacturing and sport.

He was knighted in 2018 for services to business and investment. His public profile increased further after he became involved in professional sport, including football, cycling and Formula One.

How much is Jim Ratcliffe worth?

Ratcliffe is one of Britain’s wealthiest businessmen. His fortune is largely connected to his ownership interest in INEOS, alongside investments in other businesses and sporting ventures.

The 2026 Sunday Times Rich List estimated his wealth at £15.194 billion, placing him among the richest people in the UK. This was lower than the £17.046 billion estimate published for him in the 2025 list. These figures are estimates of personal wealth, not a statement of cash available to spend.

His fortune has been built primarily through the chemicals industry. INEOS operates internationally and has expanded through acquisitions in petrochemicals and related sectors. The group has also developed interests outside its original business, including the Ineos Grenadier vehicle brand and investments in professional sport.

Ratcliffe’s wealth is separate from Manchester United’s finances. His personal fortune should not be confused with the club’s revenue, debt or the value of its shares. Nor does his wealth mean he personally owns every share held by INEOS: the company is jointly owned by Ratcliffe and business partners Andy Currie and John Reece.

When did Jim Ratcliffe become a Manchester United co-owner?

Ratcliffe’s involvement with Manchester United followed a prolonged ownership process that began when the Glazer family announced in November 2022 that they were considering strategic alternatives, including a possible sale or investment.

Ratcliffe, a lifelong United supporter, became one of the leading bidders. His proposal eventually resulted in a minority investment rather than a complete takeover.

On 20 February 2024, Manchester United and INEOS confirmed that Ratcliffe had completed the acquisition of a 25% stake in the club’s Class A and Class B shares. The deal also included a commitment to invest a further $300 million in the club’s infrastructure. The Premier League had approved the transaction following its owners’ and directors’ test.

The investment gave INEOS responsibility for the club’s football operations, including areas such as men’s and women’s football, the academy and recruitment. The Glazer family retained overall majority voting control.

The arrangement was intended to combine the Glazers’ continued ownership with Ratcliffe’s involvement in the sporting operation. It gave him significant influence over football decisions without transferring full control of Manchester United.

Do the Glazers still own Manchester United?

Yes. The Glazer family remains Manchester United’s controlling shareholder, despite Ratcliffe’s investment.

Manchester United’s 2026 annual report, filed with the US Securities and Exchange Commission, provides a detailed breakdown of the voting structure. It states that entities controlled by descendants of the late Malcolm Glazer held 67.91% of the club’s voting power as at 30 June 2026.

INEOS Services Limited held 28.95% of the voting power. The company is jointly owned by Ratcliffe, Currie and Reece.

The distinction matters because Manchester United has two classes of ordinary shares. Class A shares carry one vote each, while Class B shares carry 10 votes each. This gives the Glazer family’s shareholding greater voting influence than its proportion of the club’s total shares might suggest.

Ratcliffe is therefore a major investor and an influential decision-maker, but he is not Manchester United’s majority owner. The Glazers retain the power associated with their controlling voting position.

This arrangement has also created a complicated relationship with supporters. Some fans welcomed the arrival of INEOS because they hoped it would improve football operations. Others remain opposed to the Glazers and believe that meaningful change requires a complete change of ownership.

Why have Manchester United fans criticised Ratcliffe?

Ratcliffe’s arrival initially raised expectations among supporters who wanted the club to return to sustained success. However, several decisions taken under the INEOS-led structure have attracted criticism.

One of the most contentious areas has been cost-cutting. In 2024 and 2025, Manchester United announced significant staff reductions as part of a wider effort to reduce operating costs. The BBC reported in February 2025 that the club was considering further redundancies, following an earlier round of job losses.

The club also faced criticism after changes to ticket pricing, including the removal of some concessions and the introduction of higher minimum prices for certain match tickets.

Ratcliffe defended the need for difficult financial decisions, arguing that United had to address its financial position and improve its performance as a business. He also publicly criticised aspects of the club’s previous management and the standard of some inherited playing personnel.

However, supporters have questioned whether staff cuts and higher ticket costs place too much of the burden on employees and match-going fans. The debate reflects a wider disagreement about how a major football club should balance financial sustainability with its responsibilities to supporters and staff.

In March 2025, Ratcliffe told the BBC that he would consider walking away if he received the same level of abuse from supporters as the Glazer family. His comments were made in the context of the difficult relationship between the club’s owners and fans. They were not an announcement that he intended to sell his stake.

What are Jim Ratcliffe’s plans for a new Old Trafford stadium?

One of Ratcliffe’s biggest ambitions is to replace the existing Old Trafford stadium with a new 100,000-seat ground.

Manchester United announced the proposal on 11 March 2025. The plan was presented as part of a wider regeneration project around Old Trafford, with the proposed stadium intended to become the centrepiece of a new sports and entertainment district.

The proposed capacity would make it the largest football stadium in the UK. Ratcliffe said the aim was to create a modern venue while preserving the importance of the club’s historic home.

The club’s preference for a new stadium reflects concerns about the limitations of the existing ground. Old Trafford has been Manchester United’s home since 1910, but its facilities and infrastructure have faced criticism. The stadium currently has a capacity of around 74,500, according to the club’s latest annual report.

Where will the new stadium be built?

Manchester United has identified a site approximately 350 metres north-west of the current stadium. In June 2026, the club confirmed that it had secured a 25-acre site from property company Indurent, giving it the majority of the land required for the proposed development.

The acquisition was an important step towards the project, although securing the land does not mean construction is ready to begin. The club will still need to progress planning, design, funding and other practical arrangements.

Manchester United’s 2026 annual report recorded £64 million spent on acquiring land and buildings off John Gilbert Way during the financial year. It also recorded £63.5 million in capital expenditure on freehold property associated with the proposed stadium ambition.

The project is expected to form part of a broader regeneration programme involving Trafford Council and regional development partners. The wider ambition includes improving transport connections and creating facilities that can attract visitors beyond matchdays.

How much will the new Old Trafford stadium cost?

The project has been widely reported as a development costing around £2 billion. That figure has been cited in reporting on the proposal, but the final cost, funding structure and construction timetable remain subject to further development.

A stadium of this scale would require substantial investment. The club would also need to consider how construction costs interact with spending on players, wages and other football operations.

Manchester United chief executive Omar Berrada has previously acknowledged that the scale of the stadium investment could affect the club’s ability to compete financially in the transfer market. The challenge will be to improve the ground without undermining the resources available to the team.

What is Jim Ratcliffe’s role at Manchester United now?

Ratcliffe remains a major figure in Manchester United’s ownership and football strategy, but his influence operates within the club’s existing shareholder structure.

INEOS has overseen changes to recruitment, management and the club’s wider operations since taking responsibility for football matters. The group has also been involved in the long-term stadium proposal and the effort to improve the club’s financial position.

The 2026 annual report confirms that the Glazer family still holds the majority of voting rights, while INEOS retains a substantial minority position. There has been no confirmed announcement that Ratcliffe has agreed to buy out the Glazers or that the family has decided to sell its controlling stake.

His long-term standing at Old Trafford will depend on more than the stadium project. Supporters will judge the ownership structure by the club’s direction, its treatment of fans and staff, its financial decisions and, ultimately, its performance on the pitch.

For now, Ratcliffe remains a powerful minority investor with responsibility for the football operation, while the Glazers continue to control Manchester United through their majority voting rights.