Ratcliffe has overseen a wave of controversial cost-cutting measures since taking over at Old Trafford
Sir Jim Ratcliffe’s wealth has fallen by £6bn
Sir Jim Ratcliffe’s wealth has fallen by £6bn (Getty Images)
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Sir Jim Ratcliffe’s wealth has fallen by £6.473bn - a quarter of his total fortune - according to this year’s Sunday Times Rich List.
The Manchester United co-owner and founder of Ineos has seen his wealth fall from £23.519bn 12 months ago to £17.046bn, according to the latest list.
The billionaire’s Ineos group bought a 27.7 per cent stake in United for £1.25bn in February last year and they have overseen a wave of cost-cutting measures in an attempt to improve the club’s dire finances.
United, who are 16th in the Premier League but will face 17th-placed Tottenham in the Europa League final in a bid to salvage their season, have raised ticket prices and made two rounds of redundancies from the club’s staff.
Ratcliffe has defended the club’s controversial cost-cutting, with the 72-year-old explaining that “unpopular decisions” had to be made, but United have also announced plans to build a new £2bn 100,000-seater stadium.
Meanwhile, total debut at Ineos has risen to £8.8bn, according to the Times, and has posted losses of £124.4m in the last year. Ratcliffe has previously said that financial difficulties at Ineos would not impact Manchester United.
For United, beating Tottenham in the Europa League final would offer the club a lucrative return to the Champions League despite a difficult season under Ruben Amorim.
The club felt the hit of failing to qualify for the Champions League under Erik ten Hag last season, with their revenue dropping when United posted their first-quarter accounts.