Sir Jim Ratcliffe's position at Manchester United is reportedly less secure than before after a clause emerged that could force him out of the club.
Ratcliffe completed Man Utd minority takeoverLittle-known clause emerges 18 months onINEOS billionaire could be forced out of clubFollow GOAL on WhatsApp! 🟢📱WHAT HAPPENED?
The INEOS owner purchased a 27.7 per cent stake at United for £1.03 billion ($1.38bn) in February 2024, and even though he is a minority owner, he controls the day-to-day operations of the club – rather than the majority owners, the Glazers. However, that could be under threat after a clause kicked in at the Red Devils on August 13.
AdvertisementGetty Images SportTHE EXPLANATION
According to The Daily Mail, a 'drag-along' clause – which happens regularly in business deals to give majority shareholders the power to sell – was included in the takeover. This means the Glazer family can force the INEOS boss to sell up, so long as they receive an offer for the entire club that they deem acceptable. That is why Ratcliffe's stake at United is vulnerable. Moreover, he is said to have a good relationship with the Glazers, so an exit seems remote.
WHAT RATCLIFFE PREVIOUSLY SAID
When Ratcliffe was unveiled as United's new minority owner in early 2024, he alluded to this clause at Ineos' London headquarters.
"I don't think we're going to be taking the legal agreements out of the bottom drawer. I just hope they gather dust and we never see them. Which it should be. It should be on the basis of a relationship," he said.
Getty/GOALWHAT NEXT?
As a result of this clause that has kicked in after 18 months, previous interested parties, such as Sheikh Jassim bin Hamad al-Thani and his 92 Foundation, could swoop in and spell the end of Ratcliffe at Old Trafford. However, the report adds that they have 'zero interest' in acting upon it. So the 72-year-old billionaire, who is not all that popular among Red Devils fans, may be safe for now.
