Sir Jim Ratcliffe's £1.3billion deal to buy a 25 percent stake in Manchester United contains a provision that could require the Glazers to offer their remaining shares to the petrochemicals magnate first, should they one day wish to relinquish their ownership of the club.
The club confirmed on Christmas Eve that the petrochemicals magnate had been successful in his bid to ascertain a minority stakehold in the football club.
It ends what's been a year-long process after the Glazers initially instructed the The Raine Group and Rothschild and Co to handle the sale of the football club back in November 2022.
Unfortunately for United supporters, the Glazers will maintain majority control of the club, despite Ratcliffe and his INEOS team coming in to spearhead football operations.
The British billionaire is himself a boyhood Man United fan and a fiercely competitive businessman, with some United fans having claimed that his arrivial represents the 'light at the end of the tunnel' amid the club's poor form on the pitch and recent issues back stage.
The INEOS group will oversee everything on the football pitch, including new transfers and hiring new staff.
Ratcliffe will also be given two seats on the board and will take an equal portion of A and B shares in the football club, with United confirming that the the billionaire will also invest £236.6million ($300m) into the football club.
It is expected to take around six weeks before the deal is approved by the necessary parties, including the Premier League.
On the announcement, Ratcliffe, said: 'As a local boy and a lifelong supporter, I am very pleased that we have been able to agree a deal with the Manchester United Board that delegates us management responsibility of the football operations of the Club.
'Whilst the commercial success of the club has ensured there have always been available funds to win trophies at the highest level, this potential has not been fully unlocked in recent times.
'We will bring the global knowledge, expertise and talent from the wider INEOS Sport group to help drive further improvement at the club, while also providing funds intended to enable future investment into Old Trafford.
'We are here for the long term and recognise that a lot of challenges and hard work lie ahead, which we will approach with rigour, professionalism and passion.
'We are committed to working with everyone at the Club – the Board, staff, players and fans – to help drive the club forward.
'Our shared ambition is clear: we all want to see Manchester United back where we belong, at the very top of English, European and world football.'
Man United fans have long protested the Glazer's unpopular ownership of the football club, with many campaiging against their American owners and their running of the club.
On the announcement, Avram Glazer and Joel Glazer said to the club's website: 'We are delighted to have agreed this deal with Sir Jim Ratcliffe and INEOS.
'As part of the strategic review we announced in November 2022, we committed to look at a variety of alternatives to help enhance Manchester United, with a focus on delivering success for our men's, women's and Academy teams.
'Sir Jim and INEOS bring a wealth of commercial experience as well as significant financial commitment into the Club. And, through INEOS Sport, Manchester United will have access to seasoned high-performance professionals, experienced in creating and leading elite teams from both inside and outside the game.
'Manchester United has talented people right across the Club and our desire is to always improve at every level to help bring our great fans more success in the future.'