Man Utd co-owner Sir Jim Ratcliffe fires warning after INEOS deal | Football | Sport

Manchester United co-owner Sir Jim Ratcliffe has issued a stark warning to the UK and Europe about their energy policies. The businessman made the remarks while announcing significant fresh investment in the United States.

Ratcliffe’s company INEOS confirmed on Tuesday that it had finalised a deal for a 21% stake in three oil and gas sites located off America’s east coast. The investment builds upon the more than €3billion (£2.6bn) already ploughed into US operations.

“If you can’t get energy, then you can’t run your hospitals, run industry or heat your houses.”

He added: “Europe is all over the place. From an investment point of view, you always go to the stable rather than the unstable.

“I would have a lot more confidence in investments in America in the energy sector than I would in Europe.”

That accomplishment has made Carrick the overwhelming favourite to be confirmed as permanent manager when the season draws to a close. The club are also expected to be busy in the transfer market, with strengthening the midfield identified as a key priority.

Behind the scenes, Ratcliffe is working to bring down INEOS’s debt, which stood at $18bn (£13.2bn) at the close of last year. The United owner is reportedly edging closer to offloading Ligue 1 outfit Nice.

He acquired the French club in August 2019 through INEOS, initially valuing the side at £200m, though he is said to have significantly reduced his asking price in a bid to push through a sale.

In an interview with the Times last year, Ratcliffe admitted: “I don’t particularly enjoy going to watch Nice because there are some good players, but the level of football is not high enough for me to get excited.”