Sir Jim Ratcliffe completes deal to buy minority stake in Manchester United - 'A great honour'

Manchester United have confirmed Sir Jim Ratcliffe’s purchase of a 27.7% stake in the club.

Ratcliffe, the CEO of petrochemicals company Ineos, was officially unveiled as a minority owner at United in December.

He agreed a deal worth £1.3 billion with the Glazer family in exchange for control of the club’s football operations.

The FA and the Premier League ratified the deal last week, and the transaction has now been finalised.

"To become co-owner of Manchester United is a great honour and comes with great responsibility," said Ratcliffe in a statement.

"This marks the completion of the transaction, but just the beginning of our journey to take Manchester United back to the top of English, European and world football, with world-class facilities for our fans. Work to achieve those objectives will accelerate from today."

Joel Glazer, United’s executive co-chairman, added: "I would like to welcome Sir Jim as co-owner and look forward to working closely with him and INEOS Sport to deliver a bright future for Manchester United."

Ratcliffe and Sir Dave Brailsford, the director of Ineos’ sports division, have already been working to overhaul United’s football operations.

They have brought in Omar Berrada from Manchester City as chief executive, and will reportedly hire Dan Ashworth as sporting director once his gardening leave from Newcastle United is over.

Erik ten Hag has insisted he is "very aligned" with the new co-ownership, but scrutiny on the manager may increase given United’s current standing in the Premier League.

The Red Devils are sixth, five points off fourth-placed Aston Villa.

United’s first match under the club’s confirmed new ownership will be against Fulham at Old Trafford on Saturday, February 24.

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