On November 11, local time, The Telegraph published an article detailing Sir Jim Ratcliffe and INEOS Group's sports investments outside of Manchester United. The article pointed out that Nice and Lausanne Sports are both up for sale, the cycling team that once dominated the Tour de France has seen declining results, and INEOS has withdrawn from preparations for the next America's Cup. The Mercedes F1 team, in which the group holds a one-third stake, is one of the few projects that has achieved clear success.
When Sir Jim Ratcliffe and INEOS began acquiring sports clubs, some compared them to Red Bull. The Austrian company has been involved in F1, football, and skydiving, with mixed results. Now, Sir Jim Ratcliffe has been in the sports world for nine years, and his closest resemblance to Red Bull is perhaps that neither appeals to everyone.
INEOS's initial vision was for teams across different sports to share world-class expertise. However, since acquiring a Swiss football club in 2017, the group's sports projects have had limited success. This is not uncommon when wealthy businessmen venture into the sports world.
Fans often want to believe that "these people never fail," as if business acumen naturally translates into on-field success. The more common outcome is arrogance, wasted money, and relegation. At least, Sir Jim Ratcliffe's marathon achievements remain impressive.
In his book "Grit, Rigour & Humour: The INEOS Story," Sir Jim Ratcliffe recalls seeing a sign at a remote helicopter refueling station in Australia that read "Don't do anything stupid." This phrase reminded him of the business philosophy that drove INEOS's commercial success.
Later, this phrase was written into the "INEOS Compass." Sir Jim Ratcliffe wrote that it was an attempt to encapsulate INEOS's DNA and corporate culture. "At the heart of the Compass are three words that I believe best represent our approach and way of doing things: Grit, Rigour, Humour. This applies equally to our sports projects."
At Manchester United, a sense of humor has certainly come in handy, as many of those "stupid things" warned against have already happened. Beyond Manchester United, the sports empire INEOS has built is also starting to show cracks.
Ligue 1: Nice
When INEOS took over, Nice was ranked 7th in Ligue 1; it is currently ranked 6th.
When he took over Nice in 2019, Sir Jim Ratcliffe promised that INEOS would "not throw money away blindly." He said: "We want to build Nice into a team that can regularly participate in European competitions, and more importantly, maintain that level long-term."
Nice has achieved some of its goals. In the previous four years, their league ranking fluctuated between 5th and 9th, and they finished 4th in Ligue 1 in the 2024-25 season. The team was eliminated three times in the Europa League group stage and reached the quarterfinals of the Europa Conference League in 2023. However, their performance significantly declined last season, finishing 16th in Ligue 1 and narrowly avoiding relegation.
INEOS's initial takeover had led fans to expect Nice to challenge Paris Saint-Germain, but this never materialized. Sir Jim Ratcliffe also said last year: "I don't really like watching Nice play. There are some good players in the team, but the level of play isn't high enough to excite me." That season, Nice had home wins of 8-0 and 6-0. These remarks also drew dissatisfaction from Nice fans.
This year, Nice has stabilized under Olivier Pantaloni, but the club is still seeking a sale and has lowered its asking price. This summer, there were rumors that American investors were preparing to acquire the club, but the deal ultimately fell through.
Swiss Super League: Lausanne Sports
When INEOS took over, Lausanne Sports was ranked 6th in the Swiss Super League; it is currently ranked 12th, at the bottom of the league.
In 2017, Sir Jim Ratcliffe made his first football club acquisition, choosing Lausanne Sports, located in the city where INEOS's global headquarters are based. The team had won the Swiss top-flight league seven times, most recently in 1965. Since then, Lausanne has long fluctuated between two divisions. According to the original text, the team was relegated in INEOS's first full season.
After the acquisition, then-INEOS Football CEO David Thompson stated: "Our goal is to build a team capable of qualifying for European competitions within four years." Lausanne subsequently qualified for the Europa Conference League twice but failed to reach the main draw on both occasions.
In the domestic league, Lausanne finished 3rd in the Swiss Super League in the 2025-26 season and also suffered its second relegation under INEOS in the 2021-22 season, returning to the top flight the following year. Currently, the team is at the bottom of the league, and the club is also up for sale.
Road Cycling: Netcompany-INEOS Grenadiers
When INEOS took over, the team, formerly Team Sky, was a top force in world road cycling. It is currently ranked 8th in this year's UCI team rankings.
From 2012, Team Sky, along with British cycling, entered a golden age, with four different riders winning seven Tour de France titles. The most recent was in 2019, when Egan Bernal won the Tour de France a few months after INEOS acquired the team. Since then, despite ample funding, the team's results have been below expectations.
After ending his collaboration with Manchester United in May, Sir Dave Brailsford rejoined team management, overseeing team affairs with Geraint Thomas. Thomas has an outstanding rider's resume and is still adapting to his role as racing director.
Thomas experienced Team Sky's most successful period firsthand. He stated that the team now has to "start from 20% of its past level" and called the 2026 Tour de France "probably the worst Tour de France we've ever participated in."
This team once cost INEOS approximately £50 million per season. The team subsequently brought in new sponsors and was renamed Netcompany-INEOS. It is understood that Sir Jim Ratcliffe is very eager to win the Tour de France again, but given current results, this goal remains distant.
Sailing: INEOS Britannia
After the British team's defeat in the 2017 America's Cup, Sir Jim Ratcliffe partnered with Sir Ben Ainslie in 2018, midway through the preparation cycle for the next America's Cup. INEOS reportedly invested £200 million in this British team. In 2021, the British team lost 1-7 to Italy's Luna Rossa Prada Pirelli in the Challenger Selection Series final. Achieving success in the America's Cup requires not only funding but also time.
Three years later, the British team won the Louis Vuitton Cup, reaching the America's Cup final, marking a significant moment in British sailing history, but ultimately lost 2-7 to New Zealand. Shortly thereafter, Sir Jim Ratcliffe and Ainslie's relationship broke down due to disagreements over boat ownership. The British team is now preparing for next year's event, and INEOS has withdrawn.
Legal disputes between the two parties regarding the ownership of the yacht are ongoing. The Telegraph reporter Tom Cary wrote earlier this year: "Even if Sir Jim does get the 75-foot foiling monohull back, it's hard to say what he'd do with it."
In June, Ainslie claimed he was told that if he didn't hand over the team's assets and intellectual property, Sir Jim Ratcliffe would "burn your house down."
F1: Mercedes-AMG Petronas Formula One Team
When INEOS invested, Mercedes was the reigning drivers' and constructors' champion. Currently, Mercedes also holds both titles and secured its first constructors' championship since 2021 at this season's Brazilian Grand Prix.
INEOS currently holds one-third of the Mercedes F1 team's shares, with the other two shareholders being Toto Wolff and Mercedes-Benz. The team is profitable, its valuation continues to rise, and its on-track performance has returned to the level it was at when INEOS invested. This is one of INEOS's few undisputed successful investments.
The team is managed by Wolff. Wolff last year called Sir Jim Ratcliffe "a great sponsor," while Sir Jim Ratcliffe is rarely involved in the team's day-to-day operations.