- The completion of Ratcliffe’s minority ownership of Manchester United, which cost £1.3 billion, is nearing.
- Under the terms of Ratcliffe’s offer, Glazers will continue to play at Old Trafford.
- Regardless of Ratcliffe’s aspirations, he might be forced to depart if a sale occurs in the future.
The Glazers still have control at Man Utd / Chris Brunskill/Fantasista/GettyImages
In the event that the Glazer family decides to permanently withdraw from Old Trafford, they have the ability to compel Sir Jim Ratcliffe to sell his shares in Manchester United.
Currently, Ratcliffe is awaiting the completion of a deal for £1.3 billion to purchase a 25% share in United. This will not only allow the Glazers to continue working at the club in some capacity, but it will also give him power over the choices that are made regarding the Football Club.
Ratcliffe will be granted the opportunity to make the initial bid in the event that the Glazers ever decide to fully cash in and sell all of their shares. This opportunity is included in the agreement that Ratcliffe has with the Glazers.
The Glazers, on the other hand, are not obligated to accept Ratcliffe’s proposal. They have the option of selling their shares to a higher bidder, which would result in Ratcliffe being compelled to sell all of his shares as well.
After the completion of Ratcliffe’s takeover, the Glazers are granted the right to sell the Red Devils in their whole and to compel Ratcliffe’s Trawlers Ltd company to sell as well. However, they are not permitted to encourage any fresh proposals for United until at least a year has passed since the completion of the takeover.
Ratcliffe hopes to be in charge by mid-February / Alex Livesey – Danehouse/GettyImages
“For so long as the Glazer parties are the majority holder, following the date that is 18 months after the closing date and in connection with any sale of the entire company, the Company Board may require the Trawlers party to sell all of their company ordinary shares and take such other actions as are reasonably necessary to effect the full sale,” according to takeover documents.
“If the sale occurs within three years of the closing of the offer, the Trawlers parties must receive at least $33 per share, which is the same price as the offer price.”
However, Ratcliffe acknowledged that his present strategy was the most likely to result in a successful transaction. It is believed that Ratcliffe is interested in purchasing United in its entirety.
After the completion of his transaction, which Ratcliffe anticipates will occur somewhere around the middle of February, the British tycoon has pledged to invest three hundred million pounds into the operation of the club.
