Manchester United

Sir Jim Ratcliffe could be forced to sell Manchester United shares in 18 months

By Matt Law, Football Editor | 19 January 2024

Ratcliffe could be forced to sell Man United shares in 18 months

A document reveals that Sir Jim Ratcliffe would be forced to sell off his Manchester United shares in 18 months if the Glazer family decide to pursue another avenue.

Sir Jim Ratcliffe would be forced to sell off his Manchester United shares in 18 months if the Glazer family decide to pursue another avenue, according to a document.

On Christmas Eve, it was confirmed that Ratcliffe, via his INEOS Group, had reached an agreement to purchase 25% of the club, and the deal is set to be ratified by the Premier League within the next four weeks.

Ratcliffe was present in the stands for Man United's Premier League clash with Tottenham Hotspur last Sunday, and the British billionaire is set to take over the football department at Old Trafford.

However, according to documents that were submitted by Man United to the United States Securities and Exchange Commission (SEC), Ratcliffe is at risk of being forced to sell his shares in 18 months.

The Glazer family are not allowed to encourage new offers for the 20-time English champions for the first year without written consent of Ratcliffe's Trawler Ltd company.

Manchester United co-chairman Avram Glazer in the stands before the match on May 14, 2023 © Reuters

However, once 18 months have passed, the Americans would be able to sell Man United to another party, with Ratcliffe being forced to sell every share he owns.

"For so long as the Glazer parties are the majority holder, following the date that is 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," read the tender document.

"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."

A much higher offer would therefore place Ratcliffe, who has paid in the region of £1.3bn for 25% of the club, in a difficult position.

Ineos chairman Jim Ratcliffe on March 17, 2023 © Reuters

The documents which were submitted by Man United to SEC have also claimed that Sheikh Jassim bin Hamad Al Thani was unable to provide proof of funds.

However, the team behind Qatar's offer for the 20-time English champions have allegedly insisted that is not the case.

The Qataris could reportedly ask for a fresh statement from the SEC, but Man United remain confident that the information they provided was correct.

Sheikh Jassim's final offer for Man United is said to have been around £4bn, but it is alleged that figure is inaccurate, with his team claiming that the asking price for the club was met.

Ratcliffe is believed to have big plans for the summer transfer window, with the owner and founder of INEOS said to be looking to bring in an elite forward as part of another rebuild.