Clause that could now force Jim Ratcliffe out of Man United explained as Qataris speak out
A clause in the deal which saw Sir Jim Ratcliffe pay £1.3 billion for 25 per cent of Manchester United in February 2024 is back into play, according to the Daily Mail.
The Red Devils minority owner had a drag-along right included in the contract at the back, and it became active on August 13.
As a result, Man United crept back onto the market, and the clause means that if the Glazers want to sell, Ratcliffe and Ineos have no power to stop them.
It was agreed that the clause would become active 18 months after the deal.
Should they wish, the Glazers could not only sell their stake, but could also force the petrochemicals billionaire to do likewise with his.
Sheikh Jassim bin Hamad al-Thani has kept an eye on the situation since missing out on buying Man United and is aware of the clause.
However, the Qataris have said that they have no interest in activating the clause.
Their offer to buy the Old Trafford club for £4.79bn was rejected months after registering their interest in February 2023.
The Glazers opted to do business with Ratcliffe instead, selling a quarter stake to him.
His deal had valued the club marginally higher and also allowed the Glazers to retain their place, and both parties have remained good friends.
Ratcliffe has made some controversial decisions since his arrival, massively downsizing the non-playing staff at the club and increasing ticket prices.
He has come true on his vows to improve the fortunes of Man United on the pitch, though, with some of the recent recruitment impressing the fans.
Signing the likes of Bryan Mbeumo, Leny Yoro, Benjamin Sesko, Matheus Cunha, Patrick Dorgu, Noussair Mazraoui and Matthijs de Ligt have made the Red Devils better.
Man United head coach Ruben Amorim has been tasked to get the job done in the coming months, and Ratcliffe will continue to back the Portuguese as he looks to get the club back to the top again.
Article written by Alani Adefunmiloye .