Manchester United are reportedly back on the market owing to a hidden clause that could well force Sir Jim Ratcliffe out of the club.
Last February, it was disclosed that the British millionaire had paid £1.03 billion for a 27.7% share in the club. Even though Sir Jim is a minority shareholder, he has complete authority over United’s daily operations.
Ratcliffe has already left his imprint on the team by approving the selection of Ruben Amorim as Erik ten Hag’s replacement, implementing staff layoffs, announcing plans for a new stadium worth £2 billion, and supervising a change in the football system. Ratcliffe spent £50 million renovating the team’s Carrington training facility throughout the summer.
Sir Jim Ratcliffe may be forced out at MUFC
Ratcliffe may be compelled to sell even though he controls the club if the Glazer family decides to sell their interests in response to a good offer. According to The Mail, a “drag along” clause was part of the agreement that allowed the 72-year-old to purchase a portion of the team last year.
If the Glazer family receives an offer for the entire club that they accept, the INEOS boss may be forced to sell up. This condition went into effect eighteen months following Ratcliffe’s investment. The Sun quotes Ratcliffe as adding, “I don’t think we’re going to be taking the legal agreements out of the bottom drawer,” in reference to the clause when he arrived last year.
“I just hope they gather dust and we never see them. Which it should be. It should be on the basis of a relationship.”
It’s unclear if Ratcliffe would try to buy United outright again after defeating Qatari Sheikh Jassim in the race to acquire his share of the team.
The Saudi Arabia PIF may decide to sell Newcastle and focus on the Manchester powerhouses as a result of rumors that United is once again for sale.
The Saudi Arabia PIF reportedly pursued United in 2019, but the Glazer family only gave up a 20% ownership in the team, so the matter never materialized.
Although Newcastle’s PSR problems have prevented the Magpies from making as many investments in their team, the Saudi Arabia PIF did go on to purchase a controlling 80% share in the team in 2021.
Nevertheless, Prince Abdulaziz bin Turki Al Faisal, the Saudi Minister for Sport, told the BBC in 2022 that the Magpies’ present owners were performing a “excellent job.”
“They performed a fantastic job. The Mag quotes him as adding, “They have brought the right people on board, but they still have a long way to go.”
“I’m sure they have targets to win the Premier League and the Champions League and so on, because they strive for the best and always bring the best on board, so I think it’s going to be a bright future for Newcastle.”
Saudi MUFC ownership in the future?
The Saudi Sports Minister was also asked whether Saudi Arabia would back Saudi ownership of Manchester United and Liverpool, adding: “From the [Saudi Arabia] private sector, I can’t speak on their behalf, but there is a lot of interest and appetite and there’s a lot of passion about football.
“It’s the most-watched league in Saudi Arabia and the region and you have a lot of fans of the Premier League.
“We will definitely support it if any [Saudi] private sector comes in, because we know that’s going to reflect positively on sports within the Kingdom. If there’s an investor willing to do so and the numbers add up, why not?”
Journalist Ben Jacobs said in December 2022 that there is “no possibility” that the PIF will “ditch” the Magpies for the Red Devils, even though they might think about selling Newcastle to finance a possible takeover of United.
Since their 2021 takeover, PIF has claimed losses of around £150 million; nevertheless, they have invested nearly £300 million in the club through equity finance.
Furthermore, PIF indicated earlier this year that they are committed to a long-term partnership with Newcastle by announcing plans to construct a new stadium rather than renovate St. James’ Park.
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