Sir Jim Ratcliffe vows to help Manchester United knock Manchester City 'off their perch'

Ratcliffe's arrival at Old Trafford was officially confirmed on Tuesday evening, and the INEOS owner and founder has huge plans when it comes to the football department at Old Trafford.

In a wide-ranging interview with BBC Sport, the 71-year-old billionaire also opened up on the emotion that comes with him being a significant part of the club.

«In the north west, we have two neighbours who are really impressive football clubs. I want to knock them all off their perch,» he told sports editor Dan Roan. «We are friends in the sense we're all in the north west but they are our biggest enemies. They are clearly our biggest competitors in the UK.

»When Manchester City played Real Madrid at home and won 4-0 last season [in the Champions League semi-finals], that was the best football I have ever seen. If we can ever get to that point, it would be a great achievement.

"[We are] a long way behind. It's not going to change tomorrow. People unfortunately need to give us time to get back. It will be two to three seasons. Patience is needed. Spending money lavishly in the summer is not the solution, it is much more complicated than that."

Ratcliffe continued: «I was at primary school in north Manchester and in my class half were pale blue and the other half were red. My family were a red family, my mother and father were always Manchester United fans, and my only regret is my parents aren't here today.

»I automatically became a Manchester United supporter from the age of six or seven. It's an important element of your life, and hugely important to all