A potentially explosive clause within the structure of Sir Jim Ratcliffe’s minority acquisition of Manchester United reportedly allows the Glazer family to sell the entire club, effectively forcing the British billionaire to relinquish his stake if the price is right, according to recent reporting.
The Glazer family, who remain the majority owners despite decades of criticism from supporters over mounting debt and the club’s sporting decline, sold a 27.7% stake to Ratcliffe in 2024, a deal valued at approximately $1.6 billion (£1.25 billion). This agreement gave Ratcliffe crucial control over football operations.
However, The Times’ Charlotte Duncker shed light on a condition that could override Ratcliffe’s control. Duncker suggested that a clause, reportedly triggered in August of this year, stipulates that if a full-buyout offer comes in at over $33 a share, the Glazers “could sell the whole club.” Crucially, this provision means “Sir Ratcliffe will be bought out, as well.”
The revelation comes amid recent, confusing speculation about a potential full sale, which was initially sparked by Saudi official Turki Al-Sheikh claiming on social media that United were in “advanced negotiations” with a new investor. United officials were reportedly “surprised” by Al-Sheikh’s claims.
Edward Glazer, a director, previously offered insight into the family’s process regarding the minority sale to Ratcliffe, emphasising their collective approach:
“I think that… We’re a family business, and it was really a decision we made collectively. Not every decision is six-nothing. But, ultimately, why we have been successful as a family business is that we’ve always kind of agreed that, if the majority of family members want to do something, we realise we are in a family business and we have to do it.”