A hidden clause could force Jim Ratcliffe out of Manchester United
Last Wednesday, news came out about Manchester United, which did not get much discussion, but its effect can be profound on the future of the club. In February 2023, Sir Jim Ratcliffe bought a 25 per cent stake in the club for 1.3 billion pounds. A condition was added to that agreement, which is called “drag-along right”. This condition becomes active after 18 months and comes into force from 13 August 2025. Under this, if the Glazer family decides to sell the club, then Ratcliffe and Ineos will also have to give up their stake.
Actually, this is not a football-related term but a business rule. Its purpose is that the minority owner cannot stop the decision of the majority owner. In the case of Manchester United, it clearly means that now, Glazer can sell the entire club if he wants, and Ratcliffe will not be able to oppose it.
However, looking at the situation, it seems clear that it is difficult for this to happen right now. Ratcliffe and the Glazer family are on good terms. Sir Jim has visited the US several times to attend meetings and has praised the Glazers publicly. That closeness has meant both sides seem comfortable with each other’s decisions.
A hidden clause could force Jim Ratcliffe out of Manchester United.
INEOS, on the other hand, have made major changes to the club, reducing the structure, laying off many staff and raising ticket prices for a long time. These decisions have angered fans but have benefited the Glazers financially. Ratcliffe’s £50m upgrade of the Carrington training ground and INEOS are overseeing a new stadium, giving the Glazers the perks they need without the stigma.
As for Sheikh Jassim and his 92 Foundation, their chances of a comeback are all but over. Qatar is now focused on a 2036 Olympic bid, and insiders say they have no intention of taking another interest in United. The previous failed attempt has dampened their enthusiasm. In these circumstances, it seems that the Glazers are not in the mood to sell the club right now. Ratcliffe’s latest investment and INEOS’s activism have given them a secure position. Therefore, the “drag-along right” is only there as a backup right now. (Report via Daily Mail).
In our opinion, the Glazers will not use this clause right now because INEOS are acting as a shield for them. Ratcliffe’s presence is giving them financial and strategic support. Sheikh Jassim should also step back now, as he is already focused on other big projects.
The investment that Ratcliffe has made, the changes he has made and the strictness with which he has taken decisions clearly show that he will be associated with the club for a long time. If the Glazers really want to see United back on top, they will have to go hand in hand with Ratcliffe. Meanwhile, Alan Shearer warns Ruben Amorim and Manchester United to strengthen their goalkeeping position.