Manchester United co-owner Sir Jim Ratcliffe has lost over £6billion of his wealth this year, according to the Sunday Times Rich List.
The founder of British petrochemical firm Ineos, who bought a 27.7 per cent stake in the Red Devils in 2023, has seen his wealth fall from over £23billion to £17bn, according to the list.
Ratcliffe was once the richest man in Britain, but has since slipped to seventh on the list.
The British billionaire, 72, who secured a £1.3bn minority takeover of Manchester United took control of football operations at Old Trafford in December 2023.
Sir Jim Ratcliffe has lost a quarter of his wealth over the last 12 months according to the Sunday Times Rich List
PASince taking control of the club, Ratcliffe has implemented widespread cuts across the board amid a financial crisis.
This includes approximately a third of the staff being made redundant, and scaling back privileges for club ambassadors - including Sir Alex Ferguson.
Their fortunes could change next week, however, with the club facing Tottenham Hotspur in the Europa League final.
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Sir Alex Ferguson fell victim to the cuts, with his ambassador role being slashedPATottenham Hotspur chairman Daniel Levy made the decision to offer tickets to the upcoming Europa League final clash against Manchester United to every full-time employee at the club.
Ratcliffe’s Manchester United, however, have set aside a small number of tickets for a staff ballot, while the remaining staff members have been invited to a screening in Manchester along with two drinks tokens.
Additionally, players have been left unimpressed with their ticket allocation of just two per player, and return flights being booked at 2.15am the morning after the final.
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Boss Ruben Amorim has covered the costs for his coaching staff, however.
The lucrative game could bring an estimated £100million of extra revenue, while also the attraction of Champions League qualification could help them rebuild the squad for next season.
Failure to qualify for the Champions League under former boss Erik Ten Hag last year was a huge reason for their loss in revenue.
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A Mason Mount brace helped fire Manchester United into the Europa League finalReutersWith the side currently sat 16th in the Premier League, winning the final is their only route through to the competition.
These decisions have incited heavy criticism on the British billionaire from supporters, with the club failing both on and off the pitch.
Ratcliffe even claimed during a revealing interview the club would have "run out of cash" by the end of the year.
It is not just Manchester United that has suffered cost-cutting tactics, as Ineos have walked away from their sponsorship deal with the New Zealand Rugby team.
Ineos blamed "cost-saving measures", with the chemical industry’s struggles in Europe due to "high energy taxes" and "extreme" carbon taxes, along with the "de-industrialisation of Europe".
In a rare bit of positive news for the Red Devils, Ratcliffe announced recently the club’s plans to build a new 100,000-seater stadium next to the decrepit Old Trafford.
It is estimated to cost around £2bn.
