All articles tagged with #ineos
Manchester United's 2025-26 season, a 40-game slog, is their shortest in over a century, ending without silverware after early exits in cup competitions, with caretaker Darren Fletcher unable to stabilise a fragile team amid ownership unrest and mounting pressure to reshape the club.
Sir Jim Ratcliffe, the British billionaire and owner of INEOS, has acquired a 27.7% stake in Manchester United for over $1.3 billion, aiming to restore the club to its former glory and compete at the top of English and European football. Ratcliffe discussed his ambitions, including plans for the club's sporting operation, potential redevelopment of Old Trafford, and the need for patience from fans, emphasizing that success will take time. He also addressed the challenges of securing the stake, the influence of INEOS, and the potential recruitment of Newcastle's sporting director, Dan Ashworth.
Sir Jim Ratcliffe and INEOS have completed the purchase of a minority stake in Manchester United, with Ratcliffe taking a 27.7% ownership of the club's shares. The deal, valued at $1.3 billion, includes a $300 million commitment from Ratcliffe for future investment in the club, particularly for infrastructure enhancements at Old Trafford. The new ownership has already initiated changes, including the appointment of a new chief executive and the pursuit of a sporting director. Ratcliffe aims to take Manchester United back to the top of English, European, and world football, with a focus on creating winning teams on the field.
INEOS has acquired a 25% stake in Manchester United for £1.3 billion, gaining sporting control and investing $300 million. This deal marks a shift in the club's dynamic, with INEOS assuming control over football operations while the Glazer family retains overall ownership. The acquisition brings fresh impetus and outside investment to the club, with plans to improve infrastructure and a focus on winning the Champions League. Despite the minority stake, INEOS aims to lead a modern, fan-centered approach to ownership and has already made changes to the club's leadership, sparking speculation about the future of manager Erik ten Hag and other key personnel.
Patrick Stewart, Manchester United's incoming chief executive, has been with the club since 2006 and has played a crucial role in overseeing legal and regulatory affairs. As he takes on the role of interim CEO following Richard Arnold's departure, uncertainty looms over the potential impact of Sir Jim Ratcliffe's proposed minority investment. Stewart is expected to manage the club during this transition phase and has been working closely on the investment. Jean-Claude Blanc, former Juventus CEO, is likely to eventually succeed Arnold as United's permanent CEO. Stewart is described as a level-headed influence and is involved in various Premier League and Football Association committees, including those related to women's football and legal matters.
Manchester United's board is set to vote on selling a minority stake in the club to British billionaire Sir Jim Ratcliffe after Sheikh Jassim's Qatari group claimed to have withdrawn from the race. Ratcliffe's INEOS petrochemical empire has agreed in principle to a deal for a 25% stake, subject to board ratifications. This would potentially give Ratcliffe sporting control of the club but deny fans a clean break from the Glazer family, who have faced opposition from supporters due to their leveraged buyout in 2005. The Glazers own 96% of the voting rights and will make the final decision at the board meeting.
Sir Jim Ratcliffe and INEOS have submitted a revised bid to become the new owners of Manchester United, along with Sheikh Jassim Bin Hamad Al Thani. The initial bids from Sheikh Jassim and Ratcliffe are not thought to have surpassed £5bn ($6.14bn) for United during the first round 'soft' deadline on February 17. The Glazer family, who confirmed they were open to selling United in November, have received multiple proposals for investments, including a proposal for possible financing from US hedge fund Elliott Investment Management.
An accidental fire broke out at the INEOS cumene production facility in Pasadena, Texas, after a liquid petroleum gas explosion occurred while liquid bulk trucks were delivering raw materials. One person was transported to the hospital, and all other staff members were accounted for. The fire was extinguished, and there are currently no known impacts to the community or shelters in place. Healthcare officials will be conducting an investigation and monitoring the air quality in the area to ensure it’s safe.
A massive fire broke out at the INEOS chemical plant in Pasadena, Texas, following two reported explosions. One person was taken to the hospital, and the cause of the fire is not yet known. The plant produces a number of products related to oil and gas, chemicals, and polymers. HazMat crews responded to the scene, and no impacts to the surrounding area have been announced by officials.
An explosion occurred at the INEOS chemical site in Pasadena, Texas, during the transfer of liquid petroleum gas from one tanker to another, injuring one person who was taken to the hospital and listed as stable. The fire was extinguished, and all staff members were accounted for. The Harris County Fire Marshal's Office is investigating the incident, and air monitoring was conducted to ensure no impact on the community. INEOS is the world's largest producer of Phenol and Acetone.