Manchester United could force Sir Jim Ratcliffe to sell stake within 18 months
Manchester United have the ability to force Sir Jim Ratcliffe to sell his newly-bought 25 per cent stake in the club, according to new company filings published this week.
The club set out certain conditions which could force the Ineos billionaire to divest from the football behemoth, though details of the conditions were not immediately made clear.
This comes after Sir Jim Ratcliffe bought a 25 per cent stake in Manchester United at £26 ($33) per share, valuing the club at £4.96bn, and his portion, £1.3bn.
Filings published on Tuesday show the club holds the ability to force Ratcliffe to divest his stake, but it wasn’t clear what conditions would be met in order to trigger this.
It also showed that for three years after the investment, any potential sale of the club would require a minimum of £26 ($33) per share, set at Ratcliffe’s purchase rate.
Ratcliffe’s investment in Manchester United means he is a director of the club and is in charge of its footballing affairs. It was reported this week, that transfers would have to be confirmed by Ineos.
The majority ownership of the club is still held by the Glazer family, who have faced protests from supporters over Manchester United’s mismanagement, under-investment, and lack of success on the pitch since the departure of Sir Alex Ferguson.
Manchester United has been approached for comment but has not immediately replied.
Since announcing it was looking for new investment and ownership, Manchester United stock has increased substantially. Its shares have increased by five per cent in the last month alone.
