Britain’s richest man Sir Jim Ratcliffe has explained why he won’t buy Manchester United , the club he grew up supporting.
Ratcliffe, 67, is worth a reported £20billion thanks to the success of his multi-national chemicals company, Ineos.
He used some of his wealth to purchase French club Nice for €110m in August, while he has also looked into the possibility of taking over several English teams including Chelsea , Newcastle and Leeds.
His company also provides financial backing for cycling’s Team Ineos, after broadcaster Sky decided not to renew their sponsorship.
But Ratcliffe says he would not be interested in buying United from unpopular owners the Glazer family, saying it would not make good business sense.
Asked whether he would be interested in a move for United, Ratcliffe told the Times : “Not at the moment, no. They are in quite a big pickle as a business.
He said United have made poor decisions – and insisted that in any case he would want to test the water at Nice before making a move for a big Premier League club.
“They haven’t got the manager selection right, haven’t bought well,” Ratcliffe said of United. “They have been the dumb money, which you see with players like Fred.
“We won’t look elsewhere until we have had a good run here (at Nice). We need to find out how to be successful before you ever want to write a big cheque. It’s quite difficult.”
He added that United have “lost the plot” since Sir Alex Ferguson retired in 2013