Man Utd takeover latest: Sir Jim Ratcliffe gets huge boost from Mercedes F1

Updated: 11 Oct 2023 01:07 CDT
3 min read

Manchester United takeover bidder Sir Jim Ratcliffe just got a little bit richer, thanks to Mercedes.

The Formula 1 team have recorded a sizeable increase in revenues and profits, and the INEOS billionaire is one of the big beneficiaries as one of Mercedes' three major shareholders.

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Despite their drivers, Lewis Hamilton and George Russell, failing to dethrone Red Bulls' Max Verstappen, Mercedes-AMG Petronas saw their revenues rise by 24 per cent from the 2022 season, according to the team's accounts. This saw their pre-tax profits accordingly jump to £113 million from £72m the previous term.

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After tax, the company recorded profits of £89.7m, a £20m increase from last year, thanks to "higher commercial revenues from Formula 1, sponsorship and applied science." As part-owner, Ratcliffe will receive a share of a £75m dividend.

Man Utd takeover latest

Ratcliffe has recently been in the news because he is said to be exploring different approaches to unlock the Man Utd takeover saga, which could include tabling a new offer that will only see him acquire a minority stake in the club with a view to gradually increase his influence over the Red Devils.

The other bidder, Sheikh Jassim and his camp, meanwhile believe that this is a new 'pressure tactic' to get them to increase their offer to something more in line with the Glazers' demands.

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The American owners are said to be reluctant to sell the club for anything below their £6 billion valuation after seeing the Washington Commanders of the NFL sold for a world-record £4.94bn, believing the Man Utd brand to be more attractive and, therefore, more expensive.

The takeover saga has been dragging on all year and there is still seemingly no end in sight. Ratcliffe's potential new proposal would keep the Glazers firmly in control - for now - and would only offer a short reprieve from the uncertainty that has been looming over the club.