The millions new Man United minority shareholder spent on Eliud Kipchoge’s INEOS 1:59 Challenge

The Star

The millions new Man United minority shareholder spent on Eliud Kipchoge’s INEOS 1:59 Challenge

Abigael Wafula 20:12 - 27.12.2023

The millions that Sir Jim Ratcliffe, the new Manchester United minority shareholder spent on Eliud Kipchoge's INEOS 1:59 Challenge have been disclosed.

Sir Jim Ratcliffe made headlines recently after agreeing to buy a 25% stake in Manchester United for about $1.6 billion which is approximately Ksh 259,085,437,000.

Ratcliffe is surely one of the richest men in Great Britain since he also spent an arm and a leg during Eliud Kipchoge’s INEOS 1:59 Challenge that happened back in 2019.

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The INEOS Challenge was organised by Sir Dave Brailsford, the Ineos director of sport who is expected to oversee the football operation at Old Trafford.

According to reports, Ratcliffe reportedly spent Ksh 2,973,500,000 on the project, and the five-time Berlin Marathon champion could have walked away with most of the money since he achieved the target.

The deal Manchester United deal will see Ratcliffe and Sir Dave Brailsford assume control of football operations in what is another major development in the overhaul of the senior hierarchy at Old Trafford.

Ratcliffe expressed an interest in investing in United back in January and faced competition from Qatari businessman Sheikh Jassim bin Hamad al Thani, who had a bid reported to be worth around £5bn to buy the club outright rejected before withdrawing from the process.

That left the path clear for Ratcliffe, one of the UK's richest men and a boyhood United fan, to negotiate a deal that would allow him and Brailsford to take charge of football matters while leaving the Glazers with a majority stake.

In statement on the club's website, Ratcliffe said: "As a local boy and a lifelong supporter of the Club, I am very pleased that we have been able to agree a deal with the Manchester United Board that delegates us management responsibility of the football operations of the Club.

“Whilst the commercial success of the Club has ensured there have always been available funds to win trophies at the highest level, this potential has not been fully unlocked in recent times.

"We will bring the global knowledge, expertise and talent from the wider INEOS Sport group to help drive further improvement at the Club, while also providing funds intended to enable future investment into Old Trafford.

“We are here for the long term and recognise that a lot of challenges and hard work lie ahead, which we will approach with rigour, professionalism and passion. We are committed to working with everyone at the Club – the Board, staff, players and fans – to help drive the Club forward.

“Our shared ambition is clear: we all want to see Manchester United back where we belong, at the very top of English, European and world football.”