Manchester United have announced INEOS Group chairman Sir Jim Ratcliffe will buy a 25 per cent stake in the club.

Here, the PA news agency takes a look at some of the key questions following the £1.25billion deal.

What does it mean for the club’s ownership?

In the short term, not much, given the Glazer family are still majority shareholders.

However, under the agreement, INEOS has accepted a request by the board to be delegated responsibility “for the management of the club’s football operations”.

This is set to include “all aspects” of both the men’s and women’s teams as well as the academies. Just how Ratcliffe and the INEOS Group will implement those on a day-to-day basis remains to be seen – which has already been highlighted by the Manchester United Supporters Trust.

So when will the INEOS Group start its new job?

Detailed and complicated discussions have been going on for some time – but the Christmas Eve announcement does not mean everything has been signed off.

United’s statement noted the deal was still “subject to customary regulatory approvals” – understood to be likely to take between four and six weeks.

The process must be ratified by the Premier League and also an official announcement made via the New York Stock Exchange.

What changes are there likely to be in the boardroom?

Lifelong United supporter Ratcliffe will bring with him plenty of sports administration experience – from owning French side Nice, the INEOS Grenadiers cycling team, the Britannia sailing team fronted by Sir Ben Ainslie as well as a holding in Formula One with Mercedes.

Along with structural change, it is expected Ratcliffe will look to bring in some fresh personnel.

Sir Dave Brailsford, former performance director for British Cycling and current director of sport for INEOS, is reported to be in line for a key role at Old Trafford – as is INEOS Sport chief executive Jean-Claude Blanc, who has also held key positions with Juventus and Paris St Germain.

Manchester United’s director of football, currently John Murtough, is another role which has been suggested could be under review once the INEOS deal is formally approved.

So what about manager Erik ten Hag?

United suffered a 13th defeat of a so-far-uninspiring campaign when beaten 2-0 at West Ham on Saturday – the most they have lost before Christmas since 1931.

Despite being well off the pace in the Premier League and failing to reach the knockout stage of the Champions League, Ten Hag insists he can turn things around again.

Ratcliffe has vowed to return United to “the very top of English, European and world football” – which means results will either have to improve or INEOS could well implement some of that “delegated responsibility” in the dugout.

What else will be on the ‘to-do’ list?

As well as refurbishing the debt-laden club’s infrastructure under the agreement, INEOS will inject £158m (USD 200m) to upgrade Old Trafford.

The ongoing renovations are much needed – with reports of roof leaks and a feeling of out-dated concourses which leaves United behind many of their Premier League rivals.

Ratcliffe’s pledge to see United competing with the best on the pitch again is also not likely to come cheap in the transfer market or be a quick fix – and neither will be unifying the fan-base on the back of what MUST feels has been “18 years of debt, decay and mismanagement”.