The America’s Cup is still on for Jim Ratcliffe despite woes mounting in business and sporting interests, according to Magnus Wheatley in his latest Rule 69 Substack Blog.
In the blog Wheatley sheds crocodile tears for Poor Jim . . .
Rule 101 of being a billionaire is: ‘never, ever, buy a British football club.’ The shipwrecks on the shore of those that have is legion. The bigger the club, the bigger the headache and the more scrutiny you come under. Fans are vociferous with a divine sense of entitlement where no matter how much money you put in, it was never enough, and every loss is amplified whilst every win is expected and forgotten about quickly.
It’s a ‘tomorrow’ business with very little time for reflection or glorification. The very best owners, perhaps those without sleepless nights, are the sovereign wealth funds where money sloshes in from oil revenues, investment in the club is barely a rounding error, nobody truly understands the ownership structure and individuals aren’t on point.
Sir Jim Ratcliffe chose the hard route with Manchester United. Poor Jim . . .
Read Magnus Wheatley’s Rule 69 Substack Blog here . . .
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Related Post – An Insider view of the British America’s Cup Team stand-off
