A clause buried in fine print that gave the Glazer family to see Manchester United despite the Jim Ratcliffe-led Ineos group’s acquisition of a minority stake got activated on 13 August.
Discussion surrounding Manchester United’s ownership is once again making headlines after a turbulent few months for the ‘Red Devils’, with the Glazer family now free to sell their majority stake in the iconic club thanks to a clause that became active earlier this month.
After all, a clause buried in finer print of the deal that allowed Ineos owner Jim Ratcliffe acquire 25 per cent of the club last February became active on 13 August, one that allows the Glazers to sell the club, with Ratcliffe and the Ineos group having no power to stop them.
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According to The Daily Mail, it was already agreed that the clause would be activated 18 months after Ratcliffe acquired the minority stake in the 20-time English top-flight champions. Additionally, the Glazers can not only sell their stake, they can also force Ineos to follow suit, thus allowing a third party to take complete control of the club in question.
Sheikh Jassim takeover unlikely to take place despite activation of hidden clause
Despite the hidden clause becoming active earlier this month, there is little chance of the club witnessing a change in ownership in the near future. Qatari banker Sheikh Jassim bin Hamad Al-Thani had offered a complete takeover of the club for £4.79 billion in 2023 at a time when the Glazer family, which has owned United since 2005, was considering bidding Old Trafford goodbye.
However, Sheikh Jassim’s Nine Two Foundation has reportedly lost interest in the United takeover since their failed bid and has shifted their attention towards other “mega projects” in sports.
Additionally, the relationship between the Glazers and Ratcliffe is said to be a positive one, meaning things are likely to stay the same as far as United ownership is concerned for the time being.
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United’s primary focus will be on their team’s performance; they had brought Ruben Amorim from Sporting CP last year after sacking Erik ten Hag following a string of poor results, only for the English giants to finish 15th on the table at the end of the season – their lowest finish in the Premier League era.
United have since splurged more than £200 million during the summer transfer window, opting for a complete overhaul in their attack, in a bid to get as close to the top-four as possible this season.
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