Jim Ratcliffe has made clear his aim to take Manchester United back to the top of world football after his purchase of a 25% stake in the club was completed.

The British billionaire secured a deal reportedly worth around $1.3bn (£1.03bn).

Ratcliffe's Ineos Group will take control of football operations, with the Glazer family retaining a majority stake in the club.

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.”

Joel Glazer, Manchester United's Executive Co-Chairman, said: "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."

United's new co-owner has previously laid out his vision for the club.

Speaking in December, Ratcliffe said: "Whilst the commercial success of the club has ensured there have always been available funds to win trophies at the highest level, this potential has not been fully unlocked in recent times.

"We will bring the global knowledge, expertise and talent from the wider INEOS Sport group to help drive further improvement at the club, while also providing funds intended to enable future investment into Old Trafford.

"We are here for the long term and recognise that a lot of challenges and hard work lie ahead, which we will approach with rigour, professionalism and passion.

"We are committed to working with everyone at the club — the Board, staff, players and fans — to help drive the club forward.

"Our shared ambition is clear: we all want to see Manchester United back where we belong, at the very top of English, European and world football."