I'm waiting on a reply from Durham University concerning my MBA application but i'm a bit worried about the continuous decline of Durham University in rankings while Lancaster University has recently surpassed it. In the 2021 ft rankings, Durham ranked 74th worldwide while Lancaster ranked 96th. Now, in the 2022 ft rankings, Durham ranks 95th while Lancaster ranks 76th.
- Is there a possibility that Durham may not make it into the FT 2023 top 100 rankings?
- Is Lancaster now a better option than Durham?
- Is Durham living on past glory?

These two articles have also discouraged me a bit. I would like to hear the thoughts of everyone else.
https://www.spectator.co.uk/article/the-decline-and-fall-of-durham-university
&
https://www.palatinate.org.uk/durham-continues-7-year-decline-in-times-higher-education-world-rankings/#:~:text=The%20University%20has%20not%20improved,and%20finally%20162nd%20this%20year.

I think you should take a longer view of the rankings. Don't react to one year and assume its a rapid change in the marker. Focus on the fit of each school with your goals, not the ranking only. 

Is there a possibility that Durham may not make it into the FT 2023 top 100 rankings?
By just looking at the rank positions, I think University of Edinburgh was replaced by Durham, and Durham was replaced by Lancaster. You must not be just looking at ranking. There are many things that come into play when deciding the best MBA for your needs. It is not possible for Durham to be left out of FT2023. I am sure management would notice this regular drop.
Is Lancaster now a better option than Durham?
If you are just looking at the 2022 ft ranking alone then yes. if you look at the last 3 year ranking then no. Again it depends on a lot of things.
Is Durham living on past glory?
Not at all. It is a legacy for a couple of people I met. All of them could not stop describing how much of a great experience it was. Durham has one of the best online learning environments and infrastructure. During covid, everyone appreciated the learning and training setup.
I reviewed the 2 links you share and it does not look more aligned to postgraduate or MBA.

Some of my friends were in the same situation. I have given them this link and requested them to share their thoughts. In summary, this is what I learned,
1) Lancaster MBA international student fee is more compared to Durham's.
2) my friend who visited said Lancaster sports facility is better, Durham location is better, the castle and UN heritage site and stuff.
3) Durham had more/better scholarship awards and Durham is relatively low on cost of living, rent, food, fun etc.
4) page 67 talks about ranking, I like their IMPACT issue. I am a big fan. https://issuu.com/durhambusinessschool/docs/impact_magazine_issue_9
I did compare FT ranking and noticed a steady decline in the Durham mba rank. It could be because the last audit date being 2017. Someone told me FT puts more weight on salary earned. I could be wrong.
Most of us when we do MBA program research we start by looking at the ranking, but when we start learning more about the program we learn that not all suits our future goals.
It is highly recommended to talk to admissions office from both university and see which program suits you the best.

Thank you very much for your input and for clarifying my doubts @Duncan & @Cyberviral