Sir Jim Ratcliffe has asked Manchester United fans for patience to "bring sporting success" back to the club after his partial takeover.
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Ratcliffe acquires 25% of UnitedINEOS owner pays £1.25bn for stakeCalls for patience from fanbaseWHAT HAPPENED?
The INEOS Group owner took a 25% stake in the Red Devils for approximately £1.25 billion ($1.58b) on Christmas Eve, with the British billionaire taking over the club's football operations. After confirming he will provide £237m ($300m) for future investment into Old Trafford, Ratcliffe has written an open letter to the club's fans, asking for patience.
AdvertisementGetty ImagesWHAT JIM RATCLIFFE SAID
He wrote: "I wanted to write to you at this time given the critical role of the fans to the future of Manchester United as we recognise our responsibility as custodians of the Club on your behalf.
"I believe we can bring sporting success on the pitch to complement the undoubted commercial success that the club has enjoyed. It will require time and patience alongside rigour and the highest level of professional management.
"You are ambitious for Manchester United and so are we. There are no guarantees in sport, and change can inevitably take time but we are in it for the long term and together we want to help take Manchester United back to where the club belongs, at the very top of English, European and World Football. I take that responsibility very seriously.
"Please note that, as with any deal, it is subject to the usual regulatory sign-off process and therefore we do not expect to speak publicly about Club matters until after the deal has completed."
THE BIGGER PICTURE
While this could be good news for United fans, there is no guarantee this partial takeover will alleviate some of the club's many issues. They haven't won the Premier League since 2013 and they are a very long way off competing with the top teams for the biggest trophies. Ratcliffe has called for patience from fans, therefore, getting back to the top could take a very long time.
GOALWHAT NEXT?
There will be a six-to-eight week process for Ratcliffe's deal to be ratified and the Premier League has to sign it off, too. The first United match of this new era will be at home to high-flying Aston Villa on Tuesday. Ratcliffe won't be in attendance but INEOS director of sport Sir Dave Brailsford is expected to be present.