British billionaire Jim Ratcliffe said becoming a co-owner of Manchester United is a “great honour” and “responsibility” after his purchase of a minority stake was finalised on Tuesday.

The 71-year-old’s investment, which will give him control of football operations at the 20-time English champions, was approved by the Premier League and English Football Association last week.

It was announced on December 24 last year that Ratcliffe had agreed to buy a 25 per cent stake in United from unpopular owners the Glazer family in a deal worth around £1.02 billion ($1.3 billion).

Following the completion of that deal, the founder of petrochemicals giant INEOS has invested a further $200 million to take his total stake to 27.7 percent and will inject $100 million more by the end of this year to enable investment in infrastructure at Old Trafford.

Read full story on sport.timesofmalta.com

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