INEOS officially agree 10-year contract

INEOS are facing mounting pressure at Manchester United as Sir Jim Ratcliffe prepares for another crucial decision over the club’s future.

The British billionaire acquired a minority stake in February 2024, taking responsibility for football operations while the Glazer family retained majority ownership.

However, United’s decline has raised serious questions about the sporting structure.

Supporters have criticised recruitment decisions, particularly the failure to address weaknesses despite significant summer spending.

Meanwhile, Michael Carrick faces an uncertain future after winning just two of United’s opening 12 competitive matches this season.

The contrast with last season could hardly be greater.

Carrick initially transformed United after replacing Ruben Amorim in January, securing third place and Champions League qualification.

His outstanding interim spell produced 11 victories from 16 matches, convincing United to reward him with a permanent appointment.

The club confirmed a two-year contract on May 22, running until June 2028.

Yet Sunday’s humiliating 3-0 defeat against Bournemouth extended United’s winless run to eight matches.

The atmosphere at Old Trafford turned hostile, with supporters chanting against the Glazers, Ratcliffe and director of football Jason Wilcox.

Remarkably, the Stretford End continued singing Carrick’s name as he approached the tunnel, before directing loud boos towards his players.

With crisis talks surrounding Carrick’s future, INEOS face another defining week.

However, elsewhere within Ratcliffe’s wider business empire, a significant long-term agreement has officially been signed.

INEOS officially agree 10-year deal

ENOGIA has announced that Naphtachimie, an INEOS subsidiary, has signed a contract lasting at least 10 years to transform wasted industrial heat into electricity.

The energy specialist confirmed the agreement on October 19 through its press releases page.

The project will take place at Naphtachimie’s Lavera plant near Marseille, where ENOGIA will install modules to generate electricity from unused heat.

Under the Energy-as-a-Service arrangement, Naphtachimie will make no upfront investment, instead purchasing the power produced on-site.

The partnership follows more than two years of discussions and concerns INEOS’ industrial operations, not Manchester United.