Sir Jim Ratcliffe has now been at Manchester United for almost a year after buying 25 percent of the Red Devils from the Glazers but the INEOS owner’s wallet has taken a huge hit
Manchester United owner Sir Jim Ratcliffe has seen his net worth fall by an eye-watering £4billion since arriving at Old Trafford.
The INEOS owner completed a deal worth around £1.3billion last December to buy 25 per cent of the Red Devils from the Glazers. And since then, he has taken full control of football matters at the club, while investing heavily.
Ratcliffe has made a number of changes behind the scenes including appointing Omar Berrada, Dan Ashford and Jason Wilcox. He has also made the bold decision to sack Erik ten Hag in favour of Ruben Amorim, has promised an Old Trafford renovation and spent huge amounts improving the United squad.
Ratcliffe has also made a number of dramatic cost-cutting measures which includes redundancies, while he has also controversially cut Sir Alex Ferguson’s multi-million pound ambassadorial role. But that cost-cutting has not helped Ratcliffe.
According to Bloomberg’s Billionaire Index, the 71-year-old has seen his net worth fall £3.9bn from £16.6bn to £12.7bn. It sees Ratcliffe slip from the 110th richest person in the world to 131st.
The drop is reportedly down to the industrial sector, which INEOS operates, enduring a volatile drop. It is expected that Ratcliffe’s net worth could rise once more should things stabilise.
Regardless, Ratcliffe will not be too concerned by the drop and it shouldn’t see his commitment to United waiver. Speaking in February, he confirmed that he was not interested in financial benefits, only re-establishing the club at the top of both the English and European game.
“Yes, I’m not interested in the financial aspects of this investment at all, really, because I make enough money in chemicals and oil and gas really,” he said. “This is not a financial investment.
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“It’s because I’m interested in seeing Manchester United being successful again. It hasn’t been successful the last 11 years, but it needs to get back to where it should be, which is at the top of the game.”
New United boss Amorim also has that opinion after being asked about his bosses. Speaking in his debut interview, he said: “I think all the people are hungry for success and I feel that this is the place that I want to be also because of that, because you can be part of something special, not just one more. And that is something that I really like.”
He added: “Of course I have to say the names. Even Sir Jim [Ratcliffe] and Sir Dave [Brailsford], but especially Omar, Dan and Jason. I felt a connection and I felt we are in the same moment. We want to do something special in the special club. So I think that was a key point.”
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