Glazers could force Sir Jim Ratcliffe to sell his Manchester United stake in next 18 months

Sir Jim Ratcliffe brought 25% shares at Manchester United

The British billionaire is going to be “obliged” to part with his stake if the Glazers consent to a full purchase of the club in 18 months, as was previously reported. However, a new article from The Times has provided us with additional information.

According to a document, the Glazer family has the power to “force” Sir Jim Ratcliffe to sell his 25% ownership in Manchester United over the next 18 months.

Following his agreement to purchase a minority stake in the Red Devils for £1.3 billion, Ratcliffe was present for the team’s Sunday Premier League tie against Tottenham at Old Trafford. His contribution should materialise over the next three to five weeks, subject to Premier League permission.

According to the report, if the majority owners opt to sell the club altogether, the Ineos chairman is entitled to make the initial bid, but he runs the risk of losing out to a higher-offering buyer.

Ratcliffe will eventually feel “obliged” to part with his 25% share since the Glazer family “have the power to sell Manchester United to another buyer after an 18-month window has passed.”

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The vast majority of shareholders could “solicit or encourage new offers for the 12 months after his tender offer is completed on February 13,” according to the Glazers’ agreement with Ratcliffe, but they are permitted to sell outright six months later.

The document states: “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.”

The document adds: “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.”

“Directly or indirectly, initiate, solicit, encourage, facilitate, participate in, enter into, approve, consummate or otherwise support any full sale prior to…12 months after the closing date” is another requirement added to the list for the Glazers or their representatives.

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