Glazers and Ratcliffe agree new Man Utd clause as takeover deal awaits approval
The Glazers and Sir Jim Ratcliffe have agreed not to criticise one another as they prepare to work together at Manchester United.
Ratcliffe, who's previously described Glazer brothers Joel and Avram as "proper gentlemen," agreed a £1.3billion deal with the American family last week which gives him a 25 per cent stake in the club. The INEOS chairman and boyhood United fan signed a 241-page document which was sent to the New York Stock Exchange on Boxing Day evening which detailed conditions of the deal.
One of those, according to the Telegraph, is that neither party will publicly criticise the other as Ratcliffe's INEOS - who eventually hope to buy the club outright - prepare to take control of United's football department, while the Glazers maintain financial control. This has been described as a "mutual non-disparagement" clause under the terms of their long-awaited arrangement which comes 13 months after United announced that they were open to investment in November 2022.
Ratcliffe, 71, has agreed that neither he nor any of his colleagues or representatives of the petrochemicals conglomerate will "in any manner, directly or indirectly, make or cause to be public any public statement or announcement that relates to or constitutes an ad hominem attack on, criticises or otherwise disparages" the Glazers or United.
The British billionaire has done so in the past, however, most notably telling the Times in 2019: "[INEOS] never wants to be the dumb money in town, never. They [United] are in quite a big pickle as a business. They haven't got the manager selection right, haven't bought well.
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"They have been the dumb money, which you see with players like Fred. United have spent an immense amount since [former manager [Sir Alex] Ferguson left [in 2013] and been poor, to put it mildly. Shockingly poor, to be honest. United have done it really poorly. They have lost the plot."
Ratcliffe was much more amicable in his statement when the agreement, which is subject to ratification from the Premier League, was announced on Christmas Eve. "As a local boy and a lifelong supporter of the Club, I am very pleased that we have been able to agree a deal with the Manchester United Board that delegates us management responsibility of the football operations of the Club," he declared.
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Sir Jim Ratcliffe's INEOS will be in charge of Manchester United's football department (PA)"Whilst the commercial success of the Club has ensured there have always been available funds to win trophies at the highest level, this potential has not been fully unlocked in recent times.
"We will bring the global knowledge, expertise and talent from the wider INEOS Sport group to help drive further improvement at the Club, while also providing funds intended to enable future investment into Old Trafford. We are here for the long term and recognise that a lot of challenges and hard work lie ahead, which we will approach with rigour, professionalism and passion.
"We are committed to working with everyone at the Club - the Board, staff, players and fans - to help drive the Club forward. Our shared ambition is clear: we all want to see Manchester United back where we belong, at the very top of English, European and world football."
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