A man who rescued Princess Anne from a kidnapper in return received financial help in the time of difficulty by Queen Elizabeth II. However, the hero who received a bravery honour by the royal family is again struggling to make ends meet and has put his George Medal on auction.

According to The Sun, Ronnie Russell, a former boxer and a hero to the royal family saved Princess Anne from Ian Ball who shot four people in a failed attempt at kidnapping. The incident happened 46 years ago in an area close to Buckingham Palace when Anne was being driven along The Mall located in Central London. A crazed gunman attacked the car and short the royal chauffeur, a policeman, a journalist, and her minder in the drama.

The princess who was then just 23, and newly married was returning to Buckingham Palace after attending a charity event, late in the night, with her husband Mark Philips in a royal Austin car.

"A gunman, with pistol blazing, tried to kidnap Princess Anne near Buckingham Palace last night. He used a Ford Escort to force an official car carrying Anne and Captain Mark Phillips into the side of the road. Then he pumped six shots into the royal Austin car," The Sun reported the next day of the incident.

It is said that Ball had planned to demand three million pounds ransom from the queen in exchange for her only daughter's freedom. During the time of the attack, the princess kept it together despite the danger as reported by Russell who was a 6ft 2in, 17-stone boxer training at a club in East London. While the kidnapper was trying to drag Anne, Russell got out of his car and punched Ball.

As per the report, the boxer admitted that he put his life in danger because he thinks that the "life of a member of the Royal Family is much more important than" his.

Following the drama, the queen expressed her gratitude by awarding the young man with the George Medal and personally told him how grateful she was. Also, the queen paid off the mortgage of his house in Strood, Kent that was close to repossession.

"The medal is from the Queen, but I want to thank you as Anne's mother," Russell recalled.

It was later revealed that the queen's gift to Russell came from her personal account. Meanwhile, Ball was sent to a psychiatric hospital by an Old Bailey judge.

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Princess Anne with old lover Andrew Parker Bowles look on in the Parade Ring as she attends Ladies Day on day 3 of Royal Ascot at Ascot Racecourse on June 18, 2015 Getty

Now, 72-year-old Russell has reportedly put his beloved mark of bravery on auction because he has suffered several strokes and is facing financial problems. It is said that he plans to save the money for his funeral.