Sir Jim Ratcliffe’s worries mount as £45m Man Utd blow revealed | Football | Sport

Sir Jim Ratcliffe’s concerns are escalating at Manchester United, following revelations that the Red Devils have plummeted FOUR positions in the Deloitte Football Money League. The British tycoon purchased a 27.7 per cent shareholding in United through a £1.25billion transaction at the beginning of 2024, after reaching an arrangement with the Glazers.

The 73-year-old was subsequently handed authority over football operations and strategic decisions at the club, with former Manchester City chief football operations officer Omar Berrada being appointed as chief executive and ex-Southampton technical director Jason Wilcox taking up a comparable position. Nevertheless, Ratcliffe’s adjustment period during his nearly two years at Old Trafford has proved challenging.

Erik ten Hag was originally kept on as manager after United’s FA Cup triumph against Manchester City, before being dismissed just 10 Premier League fixtures into the 2024/25 campaign. Subsequently, following five months of gardening leave whilst compensation negotiations with Newcastle were finalised, Dan Ashworth was dismissed as sporting director after merely five months in post.

Additionally, over 400 employees have faced redundancy, whilst other perks for behind-the-scenes personnel were eliminated as Ratcliffe sought to reduce expenditure with the objective of channelling more resources into the first-team. Whilst Ratcliffe has demonstrated his willingness to support the club financially in the transfer market – evidenced by the over £200million spent last summer despite United having NO European football – he was forced to pay approximately £27m-£30m to dismiss Ruben Amorim from his position as head coach earlier this month.

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Following Amorim’s appointment as Ten Hag’s permanent successor in November 2024, the Portuguese manager endured just 14 months at the Red Devils, securing 24 victories and 18 draws from his 63 matches in charge. Amorim steered United to the Europa League final last May, though the Reds failed to claim the silverware after suffering a 1-0 defeat to Tottenham. In total, it’s calculated that, encompassing the original compensation to Sporting CP (approximately £9m-£11m), the settlement for the remainder of his contract (roughly £10m-£12m), and his wages throughout his 14-month stint, United forfeited between £27m-£30m from Amorim’s dismissal, representing a substantial financial blow for his brief, silverware-free period.

Coupled with United’s inability to secure the Europa League during Ratcliffe’s first complete season at the helm, the Red Devils slumped to 15th in the Premier League table, their poorest league position in 50 years. Takeover speculation resurfaced in October last year when Saudi sports promoter Turki Al-Sheikh hinted at an imminent deal through social media posts.

Despite the potential move failing to materialise, rumours persist that the Glazers, who have controlled United since 2005, might sell up. Should the Glazers opt to offload United, a ‘drag along rights’ provision in Ratcliffe’s purchase agreement would be triggered. This clause would consequently establish a timeframe for any complete sale of the club.

If the Glazers wish to sell the club entirely before February 2027, Ratcliffe’s stake would need to be valued above the £24.5m he originally paid. Beyond that date, however, the Glazers can accept any offer they choose, with Ratcliffe being dragged along in the sale, regardless of any financial loss he might incur.

The development of a cutting-edge new 100,000-capacity stadium represents another significant discussion point concerning Ratcliffe and United, with the Red Devils anticipated to progress with these proposals shortly. Nevertheless, former Aston Villa chief executive Keith Wyness put forward a theory regarding United’s investment strategy earlier this week.

He believes the club will require additional revenue to help finance plans for constructing a new stadium. Speaking to Football Insider, he explained: “I’ve got no doubt there are discussions, and it’s the Glazers that hold the key at the moment, and I’ve got no doubt discussions have happened about the Glazers either bringing in another partner or selling it in some position, and I think Ratcliffe would have little choice on that.

“See the big ramifications of the problems that INEOS have brought on themselves now is things like the debt pile that’s still there in his own company, which means that they will not be able to finance through INEOS or give the proper guarantees, possibly for things like the stadium.

“Now that’s a big long-term project that all the fans were told to buy into. If you like, it was the showpiece of the whole INEOS tenure, that they wanted to show that we’re going to be moving forward and the great new Old Trafford project was going to be born and with the circus tent.

“And it was impressive, but I’m just wondering now how that could be financed in the same way without bringing in outside finance in a more expensive way and that’s going to put more pressure on them.”

It’s fair to say Ratcliffe’s journey at United has been far from seamless, and another major worry has now emerged for him. The Red Devils have slipped to eighth position in the 2026 Deloitte Football Money League, representing a four-place decline from their standing twelve months ago.

The latest and 29th edition of the Money League reveals the 20 highest revenue generating football clubs globally for the 2024/25 season – a campaign in which United reached the Europa League final, made it to the quarter-final of the Carabao Cup and exited the FA Cup in the fifth round.

In total, United contested 61 matches – with 30 of those at home – across all competitions and generated £166.73m in matchday revenue throughout the campaign. Whilst this ranks as the third highest globally – trailing only Real Madrid and Barcelona – that figure is certain to plummet for the 2027 edition.

This is because United are scheduled to play just 40 matches in 2025/26 due to no European competition and early exits from both the Carabao Cup and FA Cup. This will create additional worries for Ratcliffe, with reduced matchday income flowing through the club, meaning less funds available for Profit and Sustainability (PSR) compliance and squad investment.

However, the most alarming revelation from the Money League report is that United’s broadcast revenue plummeted from a massive £225.58m down to £179.84m, primarily due to missing out on Champions League football last season. With no European competition whatsoever this term, United’s broadcast income will suffer a dramatic decline for the 2027 edition.

The third and final element considered in the Money League is commercial revenue, where United continue to perform strongly, generating £346.76m in 2024/25. Only Manchester City, Real Madrid, Barcelona and Bayern Munich surpass them in this category across global football.

In total, United brought in £693.43m during 2024/25. However, this figure has seen them drop to eighth position in the Money League, trailing Real Madrid (£1.05bn), Barcelona (£852.3m), Bayern Munich (£752.45m), Paris Saint-Germain (£731.81m), Liverpool (£731.03m), Manchester City (£725.08m) and Arsenal (£718.44m).

Tottenham, who defeated United in the Europa League final, sit just below in ninth place with £588.07m, whilst Chelsea occupy 10th spot with £510.70m following their Conference League campaign last season.

Despite United still commanding substantial revenue, they are losing ground to their competitors, and the situation threatens to deteriorate further with the club absent from European competition and suffering early cup exits this season.

United’s decline in the Money League rankings isn’t simply a stark reflection of their current standing from matchday, broadcast and commercial viewpoints – it represents yet another significant concern weighing on Ratcliffe’s mind. Ratcliffe must get United back on track – and quickly – beginning with ensuring Michael Carrick possesses the squad necessary to secure Champions League qualification next season.

Should Carrick feel inadequately equipped, Ratcliffe must support him during the January transfer window and provide the resources required to guarantee at least a fifth-place finish. There are no excuses.

United face no other competitions beyond the Premier League until the season’s end and can concentrate solely on the top flight from here onwards. Saturday’s 2-0 victory over Manchester City has restored confidence and presented them with an excellent opportunity for Champions League qualification.

Returning to Europe’s premier competition would enhance matchday, broadcast and commercial revenues, providing the Reds with a significant boost whilst enabling greater spending power and the ability to attract superior players. It would also ease the pressure on Ratcliffe, following his disappointing first two years at Old Trafford.