There has been speculation that Sir Jim Ratcliffe’s offer to purchase Manchester United from the Glazers contains a hidden clause.
After it became clear that Ratcliffe’s Ineos Group placed a greater value on United in their proposal than Qatari financier Sheikh Jassim, United appears to be about to be taken over by Ratcliffe’s Ineos Group.
Sheikh Jassim purportedly offered £5 billion to purchase 100% of the club, but Ratcliffe is rumored to only be interested in a controlling interest.
The petrochemicals billionaire is reportedly open to letting the existing co-chairmen Joel and Avram Glazer have some connection to the team through a minority interest.
Such a move would be hugely controversial, however, given the Americans’ terrible relationship with United’s supporters.
Indeed, around 1,000 United supporters, led by the fan group The 1958, protested against the Americans’ ownership before the club’s 1-0 victory over Aston Villa last month.
Man Utd sale update
According to Sky News, Ratcliffe is proposing a full buyout of United after three years should he succeed in claiming a majority stake in the club.
The Briton’s bid reportedly includes a put-and-call arrangement which would become exercisable in 2026 and pave the way for the Glazer family’s complete exit as shareholders.
The publications claimed that if the clause is triggered it would either force the Glazers to sell their remaining shares to Ratcliffe or force him to acquire them at specified future dates.
One insider told Sky News that the first window to exercise the option would occur three years after a deal has been completed, while there are subsequent periods built into the transaction should the first one not be used by either party.
The news may appease some United fans who are opposed to the Glazers retaining any interest in the club they have owned since a £800million takeover in 2005.
It has been reported that people involved in the deal expect a decision about a preferred bidder to be made this month.
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