Okay. Let's get this straight. Football clubs are terrible assets (if we're simply talking about pure economic value) for actual billionaires. It's just not cost effective waiting around years when you can make billions of dollars doing other profitable stuff. So in that sense they're a bad investment which is why you will rarely see any actual billionaires getting in on this. Obviously when it comes to the Middle East - it's different. They want exposure to their countries , they don't care about the pure economic value of what clubs can contribute. In that sense, United is a crown jewel for sports. But what does INEOS get out of it? More exposure isn't going to help them at all. So all that is left is one thing - a vanity purchase on behalf of Sir Jim. Which is fine. Let's say he wants to leave a legacy behind him. Problem is - who inherits after that? And how likely it is that he'll feel the same way about United.
An investment in the billions is not gonna pay anytime soon, that's for sure. Obviously we are a huge club and completely self-sustaining if we remove the debt, but it's still gonna take us years to play catch up due to the Glazers horrible mismanagement of the club. Not only are we gonna have to catch up on infrastructure, but we also have to be up there with the best when it comes to players. And in that department, there's still plenty to do. This brings me to my next point - INEOS is gonna have to invest heavily at least for 5, maybe even 10 years until we get up to speed. Again, do we really believe that a company's entire existence would be in the service of United? I doubt that.
I'm not ridiculing him as a buyer, not at all. Frankly, I'd be happy with whoever gets us rid of the rats and as long as the club isn't saddled with more debt, that's still an improvement in my book. So in a sense - i'm actually very happy if Sir Jim inherits. Problem is - is he a better option than the Qataris who we know are gonna invest a shitton of money into the club and get us back to speed in a few seasons at best? Who, on top of it all, will never care about profits from the club, will not take dividends and who are basically going to spend the equivalent of their pocket change when it is all said and done? I don't like being owned by states, but frankly given the amount of deep shit we found ourselves in, we really have no choice. If it was when Magnier and McManus sold the club, when it was in tip-top financial shape, maybe I would have thought differently. But as it stands right now - we have a lot of issues.
It's not a matter of when he dies. I mean the sheikh, as you said, might die tomorrow, but the very nature of the transaction would have continuity because United would be of strategic value to the Qataris. With Sir Jim, it's a vanity purchase and the value of United will remain as long as its in hands. It's very unlikely that whoever inherits from Ratcliffe is going to feel the same way. 'Why the hell would I need to invest in this football club when I have much better things to do?' would be the logic here.