Billionaire gives his view on expanding St James's Park
A billionaire football investor has given his view of the possibility of expanding St James’s Park.
Sir Jim Ratcliffe looked into buying Newcastle United earlier this year. Ratcliffe’s Ineos group went on to buy French club Nice in an £88million deal.
Ratcliffe has spoken about his investment philosophy in an interview with The Times. The 67-year-old said: “Ineos never wants to be the dumb money in town – never, never.”
United is valued at upwards of £300million by owner Mike Ashley, who put the club up for sale two years ago. Ashley sold a plot of land next to St James’s Park to developers, and fans fear the £120million scheme, approved by Newcastle City Council’s planning committee, will hinder any future of the stadium – and change the city’s iconic skyline.
Ratcliffe, according to the Times article, “examined Newcastle United’s potential stadium growth” – and concluded that it was “not great”.