Glazers set Man Utd takeover decision date as Ratcliffe clause comes to light

06 May 2023 , 16:11

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Glazers set Man Utd takeover decision date as Ratcliffe clause comes to light

The Glazers will take a definitive decision on the takeover of Manchester United this month after it emerged Sir Jim Ratcliffe's bid includes a clause to see the family leave the club entirely.

INEOS chief Ratcliffe is one of the two frontrunners to buy Manchester United along with Qatari businessman Sheikh Jassim bin Hamad al-Thani. The pair recently submitted their third and final bids, with Sheikh Jassim proposing a complete buyout and Ratcliffe making an offer to take a controlling interest in the club and allow Joel and Avram Glazer to retain a 20% stake in United.

However, the latest developments on Ratcliffe’s bid confirms that his approach will see the unpopular American family leave the club in its entirety after three years, should he be successful in his takeover attempt. As detailed by Sky, a final decision is expected to be made over the club's future this month.

Several US investment companies – Elliott Management, the Carlyle Group and Ares Management – are proposing minority investment into the club, which would see the Glazers remain in position at the head of United but with extra spending power available.

Ratcliffe is believed to have lodged a higher offer than the Qatari-based group, although the breakdown of the nature of the deal is different. Sheikh Jassim’s bid is with a view to a full takeover of the club, while Ratcliffe’s would see the Glazers remain as minority shareholders until 2026, when they would then depart.

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The Glazer family have continually pushed back their deadline to complete a sale of the club with the ownership situation at Old Trafford still unclear, despite their intentions of listening to offers – both majority and minority investments – coming over five months ago.

Avram and Joel Glazer have put Manchester United up for sale (Getty Images)

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The Glazers are deeply unpopular among supporters after their leveraged buyout in 2005 saddled the club with enormous debts, while on the field the Red Devils having gone a decade without winning the Premier League title. United fans want the Glazers to relinquish the club in its entirety.

At least two of the six Glazer siblings – Joel and Avram – are understood to prefer an option which would see an outside investor buy a stake in the club to help finance huge capital projects like the redevelopment of the Old Trafford stadium and Carrington training ground.

Colin Millar