Manchester United fans have welcomed confirmation of Sir Jim Ratcliffe’s minority investment, saying they hope it will prove to be a “turning point” in the club’s fortunes.
The British billionaire’s deal to buy 25 per cent of United was officially ratified by the Premier League on Tuesday evening, two months after the agreement had been announced.
Since then, the 20-time English champions have already made bold moves by recruiting new CEO Omar Berrada from rivals Manchester City and raiding Newcastle United for sporting director Dan Ashworth.
“The news that the deal for Sir Jim Ratcliffe to buy an initial 25 per cent stake in the club has now completed will be welcomed by our fans around the world,” said the Manchester United Supporters Trust.
“Even before today, Sir Jim and his team have made an impressive start to their new role at United having moved fast on recruitment and on fan engagement. They are also clearly looking seriously and ambitiously at the future of Old Trafford.
“After the difficulties of the last decade, United fans are realistic about the journey back to the top and we know it won’t happen overnight.
“But Sir Jim has declared his mission to restore United back to the top of English and European football and we dearly hope we can look back on today as a turning point in that journey.
“Fans priorities now are to see the needed recruitment continue, both on and off the pitch, and the promised investment in both football and the stadium delivered. And all of this must be delivered in a new spirit of partnership between the club and the fans.
“We wish Sir Jim and his team every success.”
Since Ratcliffe, the boss of chemicals giant Ineos, agreed his £1.3bn investment United have also stepped up plans to upgrade their Old Trafford stadium, which has become dated and fallen into disrepair.
Under the terms of the deal, Ineos will take over running of football matters from the Glazer family, who have owned the club since 2005.
The team’s fortunes have declined in the last decade, with no Premier League title since 2013 and just one major trophy since 2017, but they are currently on a five-game winning run.
Ratcliffe’s 25 per cent investment in Manchester United was rubber-stamped on Tuesday