(Reuters) -Manchester United cut its annual revenue and profit forecasts on Wednesday, after the English Premier League club was knocked out of Europe’s top tier Champions League tournament in the early stages this season. The reduction will be a blow to British billionaire Jim Ratcliffe, who struck a long-awaited deal last month to buy a 25% stake in the club to try to revive its fortunes. As part of that deal, Ratcliffe’s INEOS group took over management of the club’s soccer operations. The club currently sits seventh in the Premier League table following a 2-2 draw against Tottenham Hotspur…