Britain's richest man reportedly set to take over Team Sky cycling operation [CNBC]
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Source: CNBC
Britain's richest man reportedly set to take over Team Sky cycling operation Great Britain's richest man Sir Jim Ratcliffe is set to become the new owner of champion cycling outfit Team Sky, according to a number of reports. Ratcliffe owns petrochemicals company Ineos and is worth £21 billion ($27.7 billion). He is said to have had several conversations with Team Sky's existing Team Principal Sir Dave Brailsford during the past few weeks. Ineos is Britain's largest privately owned company and in 2018 posted annual pre-tax profits of $2.64 bn. Ratcliffe has already invested $145 million in three-time Olympic sailing Gold Medalist Sir Ben Ainslie's Americas Cup team. Together Ainslie and Ratcliffe are bidding to win the famous yachting trophy in 2021 with the first all British team. Team Sky has had unprecedented levels of success since its formation in 2010, winning the Tour de France through Sir Bradley Wiggins just two years later. Since then it has had a rider go on to take the titl
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