Man Utd Co-Owner Ratcliffe Loses Quarter Of Total Wealth

Manchester United co-owner Sir Jim Ratcliffe has seen his wealth fall by £6.473bn in the last year, representing more than a quarter of his fortune.

According to the latest Sunday Times Rich list, the 72-year-old Ratcliffe’s wealth has declined from £23.519bn to £17.046bn in the past 12 months.

He also slipped from fourth to seventh position on the annual list of the UK’s 350 richest people.

Ratcliffe’s Ineos Group bought a 27.7% stake in United in February 2024 in a deal worth about £1.25bn ($1.6bn) that saw Ineos take control of football operations.

The British billionaire’s time at Old Trafford has drawn criticism after United raised ticket prices and made two rounds of redundancies in a bid to improve the club’s finances.

Ratcliffe defended some of United’s financial cost-cutting measures in a wide-ranging BBC interview in March where he said the club would have “run out of cash by the end of this year” had he not made “unpopular” decisions.

However, United unveiled ambitious plans in March to build an “iconic” new £2bn, 100,000-seater stadium close to Old Trafford.

Ratcliffe said that financial pressures on British petrochemical firm Ineos would not impact Manchester United.

Ineos walked away early from its sponsorship deal with New Zealand Rugby in February, while it also parted ways with four-time Olympic champion Ben Ainslie earlier this year after backing the Britannia America’s Cup sailing team since 2018.

The firm blamed “cost-saving measures” across its business, citing the struggling chemicals industry in Europe because of “high energy taxes and extreme carbon taxes”, along with “the deindustrialisation of Europe”.

Sitting 16th in the Premier League with two games remaining, United’s hopes for silverware and European football next term rest on their encounter with Tottenham in the Europa League final on Wednesday with the winners securing a place in the Champions League.