Potential Manchester United bidder Sheikh Jassim could yet be handed the chance to take advantage as the Glazer family reportedly once again explores a sale
Prospective Manchester United owner Sheikh Jassim has been handed a lifeline in his efforts to take over the club(Image: PA)
Manchester United owners the Glazer family could force Sir Jim Ratcliffe to sell his stake in the club. Although Ratcliffe owns a roughly 28.9 per cent stake in the Premier League giants, there is a scenario that exists in which the Glazers could force a sale to a different party through.
A drag-along clause inserted in Ratcliffe’s partial takeover in February 2024 demands he sell his shares if a buyer agrees to pay at the same price he originally did (£26 per share) within three years of his takeover being completed. One protection against this for Sir Jim is that he has a Right of First Offer.
It means that should another bidder come along, Sir Jim can either choose to match the original price per share himself, or choose to be dragged along. After February 2027, however, the Glazers will be able to negotiate a sale at a lower price should they desire and the £26 per share floor restriction drops entirely.
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That means the club would, in theory, be available for something closer to market price, with shares currently priced at £16.80 on the New York Stock Exchange. Sir Jim would, therefore, get far more value out of triggering his Right of First Offer after February 2027, meaning the likes of takeover rival Sheikh Jassim, or any other prospective bidder for that matter, could need to complete a takeover by that date given the Glazers will be highly incentivised to accept offers above market price.
There is hope United’s share price will have risen further by then given the recent improvements made at Old Trafford, however. Michael Carrick steered the club to third in the Premier League and a return to the Champions League next season, which could boost their valuation further.
Bloomberg reported earlier this week that members of the Glazer family are considering selling their shares and have held ‘internal discussions’ over the matter. The report claims certain members of the Glazer family are now more motivated to cash in on their Premier League asset.
Manchester United co-owners Joel and Avram Glazer are more heavily involved with United matters publicly(Image: ANDREW YATES, AFP via Getty Images)
This would open up the market to a buyer like Qatari financier Sheikh Jassim, who was named as the biggest rival to Ratcliffe’s bid back in 2023 and 2024. His camp have previously confirmed the Qatari has no interest partnering with another entity, meaning any takeover could 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 are directors on the board. Prospective suitors from the Middle East and the United States are expected to be among the most capable buyers should a fresh auction emerge.
Ratcliffe himself may wish to explore the option of a total takeover once again in the coming months. The Glazers preferred his partial purchase in 2024 as it allowed them to retain full rights to the club and its future while handing over the management of day-to-day operations.
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After a sticky start to life as co-owner, Ratcliffe’s tenure is now bearing fruit with Carrick leading the team. The United icon has now been given the reins to the club on a permanent basis and there’s hope he can revive the club back to its former glories, which is good news for the Glazers in terms of securing the most lucrative sale possible.
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