Advertisment

Jim Ratcliffe might be forced to sell his Manchester United stake in 18 months as per new documents

Check out the insane rule that could see Jim Ratcliffe sell his stake in Manchester United if the Glazer family decides to sell the club only on Sky247.net

author-image
Sarah Andrew
New Update
21

Manchester United (Source-Twitter)

Manchester United Football and drama are never far away from each other. As Erik Ten Hag struggles with performances on the pitch, there is more news off the pitch. Jim Ratcliffe the owner of INEOS could be forced to sell his 25% stake in 18 months.

Advertisment

That will be a major surprise to many Manchester United fans there is a new document that is doing the rounds. After Jim Ratcliffe’s first step was ratified on Wednesday a new document has put up a fair share of rules. 

As per the new document, the Glazer family cannot put up the club for sale for the next 12 months. The sale can only be carried forward if Jim Ratcliffe and his company Trawler LTD give the go-ahead. 

Can the Qatari consortium mount a new bid?

Advertisment

The documents which were filed in the SEC have further said that the sale of Manchester United can take place after 18 months. If the move does happen then Jim Ratcliffe will have no option but to sell his stake.

The statement in question read, “For so long as the Glazer parties are the majority holder. Following the date that is set 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.”

In the scenario where the club is sold after three years then Jim Ratcliffe will receive 33 Dollars per share. “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,” read the statement.

Meanwhile, Jim Ratcliffe has reached out to the official supporters board of Manchester United. The 72-year-old wrote in a statement, “wanted to write to you at this time given the critical role of the fans to the future of Manchester United as we recognize our responsibility as custodians of the club on your behalf. I believe we can bring sporting success on the pitch to complement the undoubted commercial success the club has enjoyed."

featured