Sir Jim Ratcliffe: Very good case for having a ‘stadium of the north’

Sir Jim Ratcliffe, CEO of INEOS and a major shareholder at Manchester United, tells Sky News that there is a “very good case for having a stadium of the north,” as he hopes to make headway on a masterplan for Old Trafford and the surrounding area.

Sky News’ Rob Harris spoke to him from Barcelona, where Sir Jim was focusing on the America’s Cup – another arm of INEOS’ sporting portfolio.

Read more: https://news.sky.com/video/manchester-united-sirjim-ratcliffe-will-have-big-impact-on-club-13138298

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so so Jim you’re taking on the America’s Cup again what is the addiction to this challenge well I think probably because it’s one of the greatest sporting challenges in the world and um clearly the oldest sporting challenge in the world it started in 1851 so it’s approaching two centuries old really as a challenge and whilst the UK has won just about every International sporting competition there is in the world the one and only it has never won has been the sailing one America’s Cup you know we won the rugby won the football you know the Olympics in Rio we came second Cricket what have you but sailing of course which is sort of one you would expect that the UK would have won because you know a lot of our heritage you know and history in the UK is sailing it’s the one it’s the one challenge that we’ve never never brought home so that’s the reason why and you invested it because you want to deliver something for Britain yeah I it’s it’s a good thing to do I think and uh it’s just one of the great sporting challenges and it’s always good to take on challenges you but one with the most Jeopardy sorry with the most Jeopardy I’ve always said actually as a sport it is the sport with the most Jeopardy because I mean from two points of view the Jeopardy angle because you you know it’s a it’s it’s sort of it’s a unique sport it’s obviously steeped in history and Heritage but you know years in advance the defender and the Challenger sit down and they cook up a challenge you know a technical envelope for a challenge for three or four years out and um and then you know you you recruit all these designers and engineers and you work within that envelope and you come up with with boat in the modern world of course that boat is 100% designed on immense computing power and then you get to the stage where we are at the moment and you put the boat in the water but you know the first bit of Jeopardy is does the boat do what the last thousand days of computing power have told us it will do and we don’t know and for the last America cup our boat did not do what the computer said it would do so that’s the first Jeopardy have you actually designed what you think you’ve designed and then secondly even if you have done that you don’t really know what your competitors have done have they taken a a leap in a different direction which is which you’ve seen Red Bull do a little bit at the moment and they’ve created Creed some dominant position by having found an angle a design angle that you haven’t thought of so there’s even more Jeopardy in the sport so yeah how does it benefit the whole wider inos group the fact you’re using the F1 expertise as part of this as well for Mercedes well we always said we had a a compact but really interesting Top Class group of sports activities that you probably find cross fertilization between the the various disciplines and I think this is a good example isn’t it th this this boat has been designed by a team which is made of two hearts half of them are marine engineers and designers and half of them are Formula 1 engineers and designers and there’s probably 100 of one and 100 of the other and we’ve Blended the two things together and of course you you get the benefit of a Formula 1 team of about a thousand Engineers actually because you you dip into that that pot of experience um so and as a result of that so you’ve added this challenge you added another football challenge this year how do you juggle all of these things when you trying to deliver glory to all the different sporting components of the group I have to work on a Saturday morning talking to you rob that’s how we there isn’t actually much time left anymore there’s quite a lot going on yeah yeah and obviously you know we’re sitting down three months in at Manchester United it’s the first time really since you’ve got your feet onto the table are you managing to change the culture there well I think I think it would be wrong to start talking about foot we could talk about football of course but I think it’d be wrong to start talking about football on a on a the America you know it’s a key day for America’s Cup here you know it’s a thousand days and we finally put the boat in the water and we’re going to race in a 100 days 100 days to the race so um today I’m focused not on the football which I am quite a lot but today I’m focused on the America’s Cup but they they have shown how to win something you’ve had the women’s team winning a trophy last week um you know because in other parts of the group you’ve not had that sporting success recently have you that’s a that’s a trophy for anyos you’ve had football is another sporting Manchester United is another sporting Challenge and it’s a very very big one obviously probably one of the biggest ones in the world um but this I think for the UK this is one of the big biggest sporting challenges you could find you know to win the America’s Cup we’re 175 years nearly two centuries we’ve never won it you know britania rules the waves but we haven’t rule these waves but in terms of then you know the this is part of inos as a wider Mission obviously needs inos to be successful to have the money to invest across all the different sports doesn’t it we have our group of sports activities that it’s not going to grow we’ve got we’ve got our core activities now sailing football cycling uh Formula One and that keeps us busy and of course the wider business well the core business as well which is that’s ultimately what allows you to have the fun in sport Now isn’t it or I do have to spend quite a lot of my time on the Core Business 80% of my time and you have been asked for public funds for Ultra it’s about devel vment not about the team itself are you any more hopeful you’re going to get that there’s not been positive noises well I think there’s a very good case in my view for having a stadium of the north which um would serve the northern part of the country in that Arena of football because you know we have you know if you look at the number of Champions League the Northwest is one it’s one 10 London’s one two and yet you know everybody from the north has to shle down to London to watch a big football match and there should be one in the north ibe but it’s also important for the southern side of Manchester you know to regenerate what you know is the sort of second capital of the country where the Industrial Revolution began um and but if you have a regeneration project you need a nucleus or a regeneration project and and you know having that you know world class Stadium there uh I think would provide the impetus to regenerate that region