Ratcliffe pens letter to Man United fans after 25% stake: 'There are no guarantees in sport'

Jim Ratcliffe has directly contacted Manchester United fans to plead for patience after agreeing to take a stake in the struggling English football giants.

United announced on Christmas eve that British billionaire Ratcliffe had agreed a deal to buy a 25 percent stake in the club for about $1.3 billion, with Ratcliffe vowing to return the Premier League side to the "top of world football".

United also announced in a statement on Sunday that Ratcliffe's INEOS chemicals company would take control of football operations after years of under-achievement under the US-based Glazer family, the club's current owners, who retain majority control at Old Trafford.

Ratcliffe, 71, has now written to several fans' groups, including the Manchester United Supporters' Trust, insisting INEOS "are in for the long-term" but stressing success on the pitch "will require time and patience", with fans also hoping he can redevelop a crumbling Old Trafford ground.

"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," explained Ratcliffe on Tuesday.

"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."

Ratcliffe