Ratcliffe vows to revive United's glory days

New part-owner pledges to return club to 'very top of world football'

LONDON — British billionaire Jim Ratcliffe has agreed a deal to buy a 25 percent stake in Manchester United for about $1.3 billion, vowing to return the Premier League club to the "top of world football".

United also announced in a statement on Sunday that Ratcliffe's INEOS company would take control of football operations after years of underachievement under the Glazer family.

And the 71-year-old chairman of the global chemicals giant will provide substantial funds for future investment in the club's outdated Old Trafford stadium.