Jun 20, 2024, 3:47 PM
Jun 18, 2024, 4:55 PM

Manchester United co-owner Ratcliffe shifts support from Conservatives to Labour

Subjective
Highlights
  • Sir Jim Ratcliffe, co-owner of Manchester United, has openly declared his support for the Labour party.
  • Ratcliffe mentioned being persuaded by Labour's 'socialism through capitalism' approach.
  • This shift in political allegiance comes after previously supporting the Conservatives.
Story

Sir Jim Ratcliffe, the co-owner of Manchester United, has made some unpopular decisions since acquiring partial ownership of the club in February. The new leadership group aims to transform Old Trafford into the 'Wembley of the North', with changes in directors and club culture. Ratcliffe believes that making difficult decisions, even if unpopular, can ultimately lead to greater popularity. Despite pressure on the United boss due to poor performance, the club has decided to support the current manager. Ratcliffe and INEOS are implementing changes at Old Trafford, including offering redundancy to employees to cut costs. The club is also undergoing a £50 million renovation of their training complex to create a world-class environment for the team. Billionaire John Caudwell has switched his support from the Tories to Labour, citing dissatisfaction with the Tory Party's performance in recent years. Ratcliffe, a Brexit supporter, has expressed his support for Labour and believes Sir Keir Starmer would be a sensible Prime Minister. Former Dragons' Den star Theo Paphitis has also backed Labour, criticizing the Tories for neglecting small businesses.

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