Sir Jim Ratcliffe completes £1.3bn deal to become a Manchester United co-owner

British billionaire, Sir Jim Ratcliffe is now officially a co-owner of Manchester United.

The petrochemicals billionaire and lifelong United fan has taken over a quarter share in the club after he completed his 27.7% acquisition of the club, following approval of all conditions, including the FA and the Premier League.

Ratcliffe and his INEOS group have paid more than £1billion for 27.7 per cent, which will rise to close to 30 per cent following a further £238million injection into the Premier League giants.

Ahead of the announcement, the new arrivals had effectively taken control of footballing operations at the club from majority owners the Glazers, and have swiftly gone about making their mark. 

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

‘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.’

Meanwhile, executive 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.’