Exclusive: Jim Ratcliffe Foundation helps fund exclusive facility at club where he and his daughter have skied for years
A charity set up by the UK’s richest person, Sir Jim Ratcliffe, is being investigated by the Charity Commission after helping fund a £16m luxury clubhouse for an exclusive French Alps club where he and his daughter have skied for years.
Jim Ratcliffe controls the petrochemicals and fracking company Ineos and is in the running to buy Manchester United.The club describes itself as “an exclusive and prestigious club which brings together its members around common passions: skiing, pleasure and the art of living”. The charity watchdog’s rules state that open membership is “essential” if a community amateur sports club is to meet the requirements of providing public benefit that applies to all charities. It has
Ratcliffe’s spokesperson said profits from the clubhouse help pay towards “the subsidy of more than 250 local children that now have access to world class training facilities throughout the year”. They pay €350 a season to train at the club, which they said was much lower than €1,000-a-season cost at other resorts.
Ratcliffe’s teenage daughter competes at Club des Sports de Courchevel. Ratcliffe owns a luxury chalet and theProspective members of the clubhouse are told that they can take advantage of a tax break on their fees, based on the club’s “mission” to help young people. “Due to the intrinsic mission of the Courchevel Ski Club, members can benefit from a tax deductibility,” they are told.
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