Sir Jim Ratcliffe makes major Ineos decision amid Sheikh Jassim Man Utd takeover stance

Manchester United co-owner, Sir Jim Ratcliffe's Ineos Energy, has declared they are withdrawing their funding in the UK and shifting their investments to the US.

Ineos Energy, the oil and gas production and trading branch of Ratcliffe's empire, had been pouring money into their oil refinery in Scotland until recently.

However, with the Grangemouth oil refinery shutting its doors in April 2025, Brian Gilvary, the executive chairman of Ineos Energy, has admitted that further investment in the UK is now off the table.

Speaking to The Telegraph, Gilvary stated: "We have stopped investing in Britain. Our future investment will not be [in] the UK. There's no question of that.

"The problem is that the UK has become one of the most unstable fiscal regimes in the world from a perspective of natural resources and energy.

"It means we cannot invest with any certainty because we can't be sure what future tax rates will be.", reports the Manchester Evening News. While Ineos Energy are now planning to invest £3bn into the US' oil and gas industry, there is no suggestion that this could cause Ineos' sporting operations to withdraw from United.

The Daily Mail disclosed last month that the drag along clause in the business agreement between the Glazers and Ratcliffe was now in effect.

In simple terms, this would enable the American majority stakeholders to sell their entire shares of the club, including those of Ineos, to another buyer without Ratcliffe being able to prevent it.

These clauses are typically included to stop minority stakeholders from holding the majority to ransom by refusing to sell. Ratcliffe has openly acknowledged this clause and hinted that he hopes it won't be triggered, but he could find himself in a sticky situation if Sheikh Jassim bin Hamad Al Thani decided to renew his interest.

However, according to the Mail, it's highly unlikely that the Qatari businessman will do so. The appetite for buying United now seems to be low, given the success of Qatari-owned PSG and the monumental task of returning the Red Devils to their former glory.

Instead, the focus in Qatar appears to have shifted towards securing the hosting rights for the 2036 Olympics. Their main competition for the games is currently India.

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