Glazers could force Sir Jim Ratcliffe out of Man Utd as Sheikh Jassim given takeover deadline

The Glazer family could exercise a clause to force Sir Jim Ratcliffe into selling his substantial stake in Manchester United

Manchester United's owners, the Glazer family, could force Sir Jim Ratcliffe to sell his stake in the club. Despite Ratcliffe owning a 28.9% share of the Premier League giants, specific contractual clauses mean the Glazers could still compel him to sell his shares if they push through a full sale to a new buyer.

A drag-along clause written into Ratcliffe's partial takeover in February 2024 requires him to sell his shares if a buyer agrees to pay the same price he originally paid (£26 per share) within three years of his takeover being completed. One safeguard available to Sir Jim, however, is his Right of First Offer.

This means that should a rival bidder emerge, Sir Jim can either opt to match the original price per share himself, or allow himself to be dragged along with the sale. After February 2027, though, the Glazers will be free to negotiate a deal at a lower price should they wish, with the £26 per share floor restriction falling away entirely.

In theory, that means the club could be available for something closer to market value, with shares currently trading at £16.80 on the New York Stock Exchange. Sir Jim would therefore extract far greater value by triggering his Right of First Offer after February 2027.

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This would mean the likes of takeover rival Sheikh Jassim, or indeed any other prospective bidder, may need to complete a takeover before that date, given the fact the Glazers will be strongly incentivised to accept offers above market price.

There is optimism, however, that United's share price will have climbed even higher by then given the recent strides made at Old Trafford. Michael Carrick guided the club to third in the Premier League and secured a return to the Champions League next season, which could push their valuation up further still.

Bloomberg reported earlier this week that members of the Glazer family are weighing up the sale of their shares and have held internal discussions over the matter. The report suggests certain members of the Glazer family are now increasingly motivated to cash in on their Premier League asset.

This would throw the door open to a buyer such as Qatari financier Sheikh Jassim, who emerged as Ratcliffe's biggest rival during the 2023 and 2024 bidding process. His camp have previously confirmed the Qatari has no interest in joining forces with another party, meaning any takeover bid could ultimately force Sir Jim and INEOS out of Old Trafford.

Joel and Avram Glazer serve as executive co-chairmen at United, while siblings Darcie, Kevin, Bryan and Edward hold positions as directors on the board. Prospective buyers from the Middle East and the United States are anticipated to be amongst the strongest contenders should a fresh bidding process get underway.

Ratcliffe himself may look to pursue the possibility of a full takeover once more in the months ahead. The Glazers favoured his partial acquisition in 2024 as it enabled them to maintain complete control over the club and its future while relinquishing the management of everyday operations.

After a turbulent beginning to life as co-owner, Ratcliffe's tenure is now showing signs of promise with Carrick at the helm. The United legend has since been handed permanent control of the club and there is optimism he can restore the side to its former glories, which is welcome news for the Glazers as they seek to secure the most profitable sale possible.