Manchester United plans to accelerate after Sir Jim Ratcliffe completes deal

Sir Jim Ratcliffe has completed his deal (Peter Byrne/PA)

Sir Jim Ratcliffe says Manchester United’s journey back to the top of world football starts now after completing his £1.3billion deal to become minority owner of the Premier League giants

A year and three months after the club announced a strategic review, and 58 days after a deal was struck, there is finally a new power structure in place at Old Trafford.

Ratcliffe has completed his purchase of 25 per cent of the shares owned by the Glazer family, who have been United’s majority owners since their controversial leveraged buyout in 2005.

Sir Jim Ratcliffe is responsible for football operations at the club (Simon Peach/PA)

The Ineos chairman paid 33 US dollars (£26) for each of those shares and the same price for 25 per cent of Class A shares, with 10 times fewer voting rights, following a tender process.

Ratcliffe takes control of football operations as part of the deal and plans to ramp up United’s rebuild after his team looked under the hood and began to make moves during the ratification process.

“To become co-owner of Manchester United is a great honour and comes with great responsibility,” the British billionaire said.

“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.”

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