New Man United part-owner Ratcliffe loses £1.6B on Bloomberg Billionaires Index

Manchester United's new part-owner Sir Jim Ratcliffe has seen his worth slip by over £1.5billion on the latest Bloomberg Billionaires Index - slipping just below Arsenal owner Stan Kroenke.

The Ineos petrochemicals chief ranks No 110 on the list with an overall worth of £13.87bn following his purchase of a 27.7 per cent stake in the Old Trafford club.

The deal with United's owners, the Glazer family, was concluded last month with Ratcliffe and his Ineos Sport team taking control of football operations.

Bloomberg's tracker shows a loss of £1.52bn in Ratcliffe's overall worth over the last 12 months, seeing him fall about eight places down the list.

Amazon chief executive Jeff Bezos is top of the chart with a total net worth of £157bn, having just moved ahead of Elon Musk on £156bn.

Arsenal owner Kroenke is given the same worth as Ratcliffe at £13.87bn - unchanged over the past year - but he takes over as 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, who hails from nearby Failsworth, has pledged to knock rivals Manchester City 'off their perch' and restore the Reds to the pinnacle of English and European football.

One of the changes already made behind the scenes is the appointment of Omar Berrada from Manchester City as the club's new chief executive.

Dan Ashworth is expected to come in from Newcastle as sporting director to overhaul United's recruitment department.

The aim is to end over a decade of drift at United since legendary manager Sir Alex Ferguson retired in 2013.

They haven't won a Premier League title during the ensuing 11 years, claiming just one FA Cup, two League Cups and the UEFA Europa League will getting through four permanent manager and spending over £1billion on players.