Sir Jim Ratcliffe's Ineos have parted company with Britannia America's Cup sailing team, but that is nothing for Manchester United to be concerned about, claims ex-Manchester City financial advisor Stefan Borson.
Ratcliffe has been ruthless in cost-cutting measures at United since investing £1.25billion for a 27.7 per cent stake last February. MEN Sport understands that United are set to let go a further 100 staff members after 250 people were moved on in autumn last year.
The club insist that these decisions are being made because costs on and off the pitch remain high and need to be cut down. Since taking over, Ratcliffe has also injected a further £241million to support the ongoing redevelopment of Carrington.
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However, his full focus and commitment to the Reds, has left four-time Olympic champion Ben Ainslie 'astounded' at the decision to end a seven-year partnership at the Britannia America's Cup sailing team. "The British Challenger for the 38th America’s Cup, led by Sir Ben Ainslie, was astounded to read today’s statement from Ineos and Mercedes F1 regarding their planned challenge for the 38th America’s Cup," Ainslie said, through his Athena Racing team.
Cost-saving measures have also seen Ineos walk away from their deal as New Zealand's Rugby performance partner until 2027. Meanwhile, in January, Ineos Grenadiers cycling team announced they were searching for new partners after suffering their worst-ever season last year.
"Ineos don't want to spend more money," Grenadiers CEO John Allert suggested.
However, Borson has claimed that these decisions will have little to do with Ratcliffe's investment in United. "I don't think this will be a concern to United. Ineos themselves have this situation with New Zealand Rugby, where they're trying to pull out of a five-year sponsorship deal," he told Football Insider.
"They made a statement which details why they want to pull out. They said they are struggling with the 'deindustrialisation of Europe'. They've said themselves that they are struggling. So Ineos have got business issues, but it won't affect United. We all know this is a vanity project for Ratcliffe, and it's meant to be fun for him.
"I would separate the club from Ineos. The reality is that Ratcliffe wants to make this a success as a fun project and to spend some of the money he has worked very hard to earn over the years. I wouldn't focus on Ineos and their problems."
