Sir Jim Ratcliffe completes Man Utd takeover

  • Ratcliffe's 25% share purchase has now been finalised
  • INEOS chief has received approval from both Premier League and FA
  • Ratcliffe will assume control of all football operations
Ratcliffe's move is official
Ratcliffe's move is official / VALERY HACHE/GettyImages

Manchester United have confirmed that Sir Jim Ratcliffe's 25% share purchase has now been finalised.

Ratcliffe received Premier League approval from the Premier League last week and, with the Football Association also now giving the green light, Ratcliffe and INEOS are free to start work at Old Trafford.

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

Co-chairman Joel Glazer 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."

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As part of his agreement with the Glazers, who remain at Old Trafford, Ratcliffe will assume control of all football operations. Work to fulfil his vision is already underway, with United following a plan drawn up by the new boss during the January transfer window.

Behind the scenes, United have also been remodelling their boardroom. Omar Berrada was hired as the new chief executive, while a new sporting director is also in their sights.

An agreement has been reached with Dan Ashworth of Newcastle United, but the Magpies are holding out for a huge compensation fee.