New Man United part-owner Sir Jim Ratcliffe loses almost £1.6BILLION on Bloomberg Billionaires Index, which sees him slip behind Arsenal’s Stan Kroenke in richest Premier League owners list
Manchester United’s new co-owner Sir Jim Ratcliffe has seen his value fall by more than £1.5 billion recently Bloomberg Billionaires Index – slipped just under Arsenal owner Stan Kroenke.
The Ineos petrochemicals chief sits at number 110 on the list with a total value of £13.87 billion following his £1.3 billion purchase of a 27.7 per cent stake in the Old Trafford club.
The deal with United’s owners, the Glazer family, was completed last month, with Ratcliffe and his Ineos Sport team taking control of the football operations.
Bloomberg’s tracker shows a loss of £1.52 billion in Ratcliffe’s total value over the past 12 months, dropping him around eight places down the list.
Amazon CEO Jeff Bezos tops the list with a total net worth of £157 billion, having just edged out Elon Musk with £156 billion.
Manchester United’s new co-owner Sir Jim Ratcliffe has seen his personal fortune shrink by more than £1.5 billion in the past 12 months, according to the Bloomberg Billionaires Index.
Ratcliffe and Ineos have bought a 27.7 percent stake in United for £1.3 billion
Ratcliffe’s spending has just put him on the rich list below Arsenal owner Stan Kroenke
Arsenal owner Kroenke will have the same value as Ratcliffe: £13.87 billion (unchanged over the past year), but he will become the Premier League’s richest owner.
Ratcliffe, 71, has been described as a ‘man in a hurry’ as he looks to make transformative changes both on and off the pitch at United.
The boyhood United supporter, from nearby Failsworth, has vowed to ‘dethrone’ rivals Manchester City and restore the Reds to the pinnacle of English and European football.
One of the changes that have already been made behind the scenes is the appointment of Manchester City’s Omar Berrada as the club’s new CEO.
Dan Ashworth is expected to join from Newcastle as sporting director to overhaul United’s recruitment department.
The aim is to end a decade of drift at United since legendary manager Sir Alex Ferguson retired in 2013.
They did not win a Premier League title for the next eleven years and claim that just one FA Cup, two League Cups and the UEFA Europa League will see four permanent managers and spend more than £1 billion on players.
The combined wealth of the Glazer and Ratcliffe family is estimated at around £22 billion.
The arrival of Ratcliffe (left) and Ineos sporting director Sir Dave Brailsford (right) has increased the pressure on manager Erik ten Hag (middle) to perform
Ratcliffe does not believe United have the right culture to achieve success at the moment, but plans to make ‘world-class’ arrangements behind the scenes to facilitate that
This puts them second on the list of the richest Premier League club owners behind the Saudi Arabian Public Investment Fund (PIF), which owns Newcastle along with RB Sports & Media and PCP Capital Partners.
One estimate of their combined wealth puts it at a staggering £489 billion.
Man City owners Abu Dhabi United have an estimated value of £17 billion, while Chelsea’s ownership – Todd Boehly, Clearlake Capital, Hansjorg Wyss and Mark Walter is around £12.5 billion.
Boehly is ranked number 385 on the Bloomberg Billionaires Index with a personal worth of £5.35 billion.
Ratcliffe’s restructure means United manager Erik ten Hag is under pressure when it comes to keeping his job for next season.
Champions League qualification is a must, but United are currently languishing in sixth place – some 11 points behind Aston Villa in fourth and six behind Tottenham in fifth.
They remain in the FA Cup, but play a home game against Liverpool in the quarter-finals.
“We have to look at the organization of the club, because it is not good at the moment,” Ratcliffe told the Belgian newspaper. De Tijd last week.
‘Take the head coach (Erik ten Hag), for example: he must report directly to the CEO. That is no longer possible in a modern football organization.
‘We must ensure that the right people end up in the right positions. Every person in management must be world class.
‘And then it’s important to create a positive, supportive, friendly and high-quality environment. That culture was previously missing.
‘Only in such an environment can you get the best out of athletes. If successful, the results will follow automatically.
“That’s the plan and I believe in it.”
Ratcliffe has also wasted no time in outlining plans to turn Old Trafford into the ‘Wembley of the North’ by building a new stadium next to the existing one with a capacity of up to 90,000.
Ratcliffe wants to rebuild or redevelop United’s Old Trafford stadium
