Jim Ratcliffe determined to knock Man City and Liverpool 'off their perch'

Jim Ratcliffe accepts Manchester United have a lot to learn from their "noisy neighbours" Manchester City and Liverpool but is determined to "knock both of them off their perch" within three years as he set out his vision to rebuild the Red Devils.

Ratcliffe, 71, is now co-owner of the club he has supported since the age of six after completing the purchase of a 27.7 per cent stake which delegates control of football operations to his company Ineos.

He set out his ambition to challenge City and Liverpool for domestic and European silverware but called on United fans to be patient, insisting it will take two or three seasons at least for Ineos to get the club to where he wants them to be.

In the longer term, he is looking to work with the public sector on either building a new £2billion stadium to regenerate the area around the Old Trafford, which he envisages hosting England games and FA Cup finals, or redevelop the existing site at a cost of £1billion.

"We have a lot to learn from our noisy neighbour and the other neighbour (Liverpool). They are the enemy at the end of the day," Ratcliffe said.

"There is nothing I would like better than to knock both of them off their perch. Equally, we are the three great northern clubs who are very close to one another.

"They have been in a good place for a while and there are things we can learn from both of them. They have sensible organisations, great people within the organisations, a good, driven and elite environment that they work in.

"I am very respectful of them but they are still the enemy."

Asked about the timeframe to make United truly competitive, Ratcliffe added: "It's not a light switch. It’s not an overnight change – it’s going to take two or three seasons.

"You have to ask the