Jim Ratcliffe of INEOS meets members of the press ahead of the Premier League match between Manchester United and Tottenham Hotspur at Old Trafford on January 14, 2024 in Manchester, England.
New Manchester United co-owner Jim Ratcliffe said on Friday that return on investment had nothing to do with his decision to invest in the English soccer giant.
Ratcliffe's comments come shortly after the British petrochemicals billionaire and INEOS chief executive finally completed a deal to buy a minority stake in Manchester United.
The Glazer family, which have owned Manchester United since 2005, retain a majority stake under the terms of the agreement.
"And also, we have moved into consumer markets, you know certainly automotive is a huge consumer market obviously, and the INEOS name wasn't particularly well known so, through sport, obviously people are getting to know INEOS," Ratcliffe said.
Persons:
Jim Ratcliffe, INEOS, Ratcliffe, Glazer, CNBC's Arabile, That's, we've
Organizations:
Premier League, Manchester United, Tottenham Hotspur, Old, New Manchester United, Ratcliffe's
Locations:
Old Trafford, Manchester, England, New