Ratcliffe’s rocky ride: Manchester United owner’s fortune takes £6.5bn hit
Sir Jim Ratcliffe’s turbulent first year as Manchester United co-owner has coincided with a dramatic £6.5bn erosion of his personal wealth, according to the Sunday Times Rich List. The chemical tycoon’s fortune now stands at £17bn – a staggering 27% decline that sees him drop three places to seventh in Britain’s wealth rankings.
The INEOS chief’s Old Trafford tenure has proved controversial since February’s £1.25bn stake purchase.
Ticket price hikes and staff layoffs drew fan ire, though Ratcliffe insists these “unpopular moves” prevented United from “running out of cash.” Paradoxically, the club recently unveiled blueprints for a futuristic £2bn stadium while languishing mid-table.
Industrial headwinds battering INEOS including severed sports sponsorships and European energy costs “five times America’s» haven’t dented Ratcliffe’s football ambitions.
But with United’s Champions League hopes hinging on Wednesday’s Europa League final against Tottenham,
the billionaire may need more than petrochemical profits to restore the club’s – and perhaps his own fading lustre.
