Jim Ratcliffe, a British businessman who just closed a deal to acquire a minority share in Manchester United, has appealed to the club’s supporters for “time and patience” in order to restore Old Trafford to its former glory.

In an effort to turn around United’s financial situation, Ratcliffe has agreed to spend $300 million in the team and accept a 25% ownership position. The transaction is pending regulatory approval.

Although there is hope that Ratcliffe can turn things around when he is handed control over football operations, the 71-year-old stated there was no quick remedy for United, as the team has not won the league since 2013.

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“I believe we can bring sporting success on the pitch to complement the undoubted commercial success that the club has enjoyed,” Ratcliffe said in an open letter to the Manchester United Supporters Trust.

“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.”

After eight losses in their last 18 games this season, United has dropped to ninth place in the standings.

“There’s a feeling that a full takeover would have been preferable clearly, and so there’s some concern about that, and is this just the new limbo that we get into?”

Duncan Drasdo, the CEO of Manchester United Supporters Trust, said before Tuesday’s game against Aston Villa at Old Trafford.