As if the summer transfer window weren’t pivotal enough for Manchester United, a change in the terms of the Glazer family’s ownership of the Old Trafford club will soon come into play.
Man Utd have been owned by the Glazers since 2005 and it has been an unpopular pairing in the eyes of many United fans.
The unwanted takeover spawned a protest club in the form of FC United of Manchester along with the Love United Hate Glazer movement, and supporter frustration has only grown in the years since totemic manager Alex Ferguson retired.
United still have the ability to pick up a trophy from time to time and will be confident of doing so again in next Wednesday’s Europa League final against Tottenham Hotspur in Bilbao.
But the Red Devils have dropped out of realistic Premier League title contention and Old Trafford’s condition has been allowed to deteriorate at the same time.
Jim Ratcliffe and Ineos bought in at the end of 2023 and a string of calamitous decisions behind the scenes has coincided with an abysmal season in the Premier League. The road ahead might be just as rocky.
According to The Athletic, the Glazers are three months away from being able to activate their ‘drag-along’ rights, which would throw the ownership prospects of Ratcliffe and Sheikh Jassim into a new light.
The Manchester Evening News explains: “The Americans will soon obtain the power to activate their drag-along rights, meaning the majority shareholders could force minority shareholders, such as Sir Jim Ratcliffe, to sell their shares when the majority sells their stake to a third party.
“This development could force Sheikh Jassim back to the negotiating table, with the Glazers potentially able to offer him the chance to push Sir Jim Ratcliffe to offload his shares unless he can match any incoming offers.”
Man Utd co-owners Joel and Avram Glazer pictured (Image: Getty)
If the prospective Qatari investor were to agree a deal with the Glazers, Ratcliffe’s shares – currently around 29% – would be affected too.
“Should the Glazers sell to a third party within 18 months of the activation of their drag along rights, Sir Jim can expect to recoup what he paid to invest in United,” adds the MEN.
“However, if the owners do not secure a sale prior to that, the British billionaire could potentially be dragged along for whatever price the Glazers agree with a prospective buyer.”
Sheikh Jassim’s stated aim of owning Man Utd outright might well tempt him into a fresh bid under the updated terms.
However, his ability to complete such a takeover remains unclear.
“According to filings from last year with the U.S. Securities and Exchange Commission (SEC), Sheikh Jassim did not show adequate proof of funds and subsequently withdrew from the process,” according to the Manchester Evening News.
