FILE PHOTO: Jim Ratcliffe, CEO of British petrochemicals company INEOS, poses for a portrait with the Canary Wharf financial district seen behind, ahead of a news conference announcing the launch of a British America's Cup sailing team in London, Britain, April 26, 2018. REUTERS/Toby Melville/File Photo
LONDON (Reuters) - Britain's richest man Jim Ratcliffe rode to the rescue of Team Sky when his chemicals multinational INEOS was confirmed as the new owner of the powerhouse cycle team on Tuesday.
A statement from the British outfit, which has eight Grand Tour victories to its name, said current owners Sky and 21st Century Fox had agreed a sale to INEOS, who will officially take control on May 1.
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