Sir Jim Ratcliffe interview: Man Utd co-owner says some players are ‘not good enough’ and ‘overpaid’

Ratcliffe does, though, admit not every decision taken has been the right one.

“We are not perfect, and we are on a journey, and there have been a couple of errors along the way, but I think in the main all the things we are doing are the right things for the club,” he said.

One of those errors was the hiring of sporting director Dan Ashworth – who then left the role after just five months.

Ratcliffe said the “chemistry” was not right, leading to his departure.

Backing Ten Hag in the summer, only for the Dutch coach to leave a few months later, he admitted was another mistake – it cost the club around £20m to compensate Ten Hag and his team and then bring in Amorim.

“I agree the Erik ten Tag and Dan Ashworth decisions were errors. I think there were some mitigating circumstances, but ultimately they were errors. I accept that and I apologise for that.

“If you look at the time we made the decision about Erik the management team hadn’t been in place more than five minutes,” he explained, adding that it was difficult to judge the Dutchman’s performance under the previous regime.

“It became clearer three months later and we got it wrong, but we’d moved on. I think we corrected it and we are in a very different place today,” he added.

Ratcliffe believes those changes, coupled with the operational changes, will help the club to move forward and repeated his target of winning the Premier League by 2028 – the club’s 150th anniversary.

“I don’t think it’s mission impossible. I think it’s good to have goals and objectives, Ratcliffe said.

“If you look at Arsenal, if you look at Liverpool, if you look at the period of time it took them to get the house in order and get back to winning ways, that’s probably slightly on the short end of the spectrum. But it’s not impossible.”

The club is also preparing to announce plans that could see “the most iconic football stadium in the world” being built to replace the existing stadium, as part of a wider regeneration scheme.

An announcement is expected on Tuesday.

“The club’s going to finish up in a very very different place in three years’ time to where its been in the past, in my view,” Ratcliffe added.

“I think it will become the most profitable club in the world. I think we may well finish up with the most iconic football stadium in the world, and I think we will finish up winning silverware again.”