Man Utd can be sold without Sir Jim Ratcliffe's permission as takeover offer made

Manchester United could be on the brink of changing ownership after reports emerged that minority shareholder Sir Jim Ratcliffe might be forced to relinquish his stake. The development follows the revelation that mechanisms exist that could compel the Ineos billionaire to sell his United shares.

Ratcliffe, 72, emerged victorious from a bidding battle against Sheikh Jassim bin Hamad Al Thani to invest in the Red Devils towards the end of 2023. While Sheikh Jassim sought to acquire all of the Glazer family's shares in the club for £5.5billion, Ratcliffe prevailed with his proposal of approximately £1.3bn for a 27.7% stake.

The British chemical magnate subsequently boosted his portion to 28.9% after a £79.2million cash injection in December 2024. Nevertheless, the club's fortunes have remained unchanged despite Ineos assuming control of daily operations at Old Trafford.

However, a 'drag-along clause' that came into effect during the summer means Ratcliffe and his associates could face removal. A drag-along clause represents a provision within a company's shareholder agreement enabling majority stakeholders to "drag along" minority shareholders into selling their shares should the majority choose to sell up.

This condition guarantees the Glazer family possess the authority to force all shareholders to dispose of their holdings. Under his takeover arrangement, Ratcliffe held first refusal should the Glazers have chosen to sell during the initial 18 months after his minority acquisition was finalised, though this provision lapsed in August 2025.

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This means that, should the Florida-based Glazers decide to sell up, they can force through a full sale of the club. And given the value of Ratcliffe's 2023 investment, its likely they would require a proposal exceeding £5bn to be enticed into selling up.

Saudi sports supremo Turki Al-Sheikh sent shockwaves through the footballing world when he posted on X this week: "The best news I heard today is that Manchester United is now in an advanced stage of completing a deal to sell to a new investor."

Responding to his own message, he continued: "I hope he's better than the previous owners." Yet many have been left scratching their heads following the surprise announcement, with precise details remaining shrouded in mystery.

United insiders informed the Manchester Evening News that personnel at the club have been caught off-guard by Al-Sheikh's assertion of a fresh takeover attempt being orchestrated. Despite his earlier involvement, it's not thought Sheikh Jassim is rekindling his bid to acquire the club.

His prior endeavour was dismissed after he couldn't demonstrate sufficient financial backing during negotiations. Al-Sheikh has emerged as a pivotal player in positioning Saudi Arabia at the heart of a recent sporting revolution.

The nation has deployed its enormous wealth to revitalise various sporting disciplines, including boxing, snooker and most lately darts. The chairman of the Islamic Solidarity Sports Federation (ISSF) later clarified that he is "not the investor," nor is the person in question from Saudi Arabia., adding the deal "might not necessarily happen."

talkSPORT and the Daily Mail reported on Thursday that the bid might come from investors in the United Arab Emirates. The Glazer family, who took over United more than 20 years ago with a total investment of £790m, have been widely criticised by the club's fanbase in recent years

Ratcliffe spent a significantly larger sum to acquire just over a quarter of the club, and he may already be facing the axe after less than two years. Sir Jim has invested more than £200m of his own money into the club and has indicated his intention to restore United to their former glories in the coming years.

Former bidder Thomas Zilliacus, who rivalled Sir Jim Ratcliffe and Sheikh Jassim's bids to purchase United in 2023, confirmed on Friday he is still interested in investing in the club should the opportunity arrise and that he is currently drawing up plans of his own to do so. The Finnish entrepreneur also offered to partner with Ineos, or any parties interested in acquiring the club.

"I actually have nothing against working with people like Jim Ratcliffe or any investor, whoever that may be," he said. "Because I'm not in this to have a trophy that I can show off to other people.

"I'm in this to make a club that I've been a fan of since I was 12 years old the best club in the world. My heart cries when I see how things are going today. Manchester United are so far below where the club should be and could be if things were managed the right way.

"When I had made my bid I realised that the Glazers were playing a game where Jim Ratcliffe and Sheikh Jassim and myself were just trying to outbid each other. So the price was just going higher and higher and higher.

"I publicly said that this is madness, that this is money that should be used for the club and not to further enrich the Glazers. So I said, 'Why don't we join forces and take over the club together?'

"I'm still completely open to that, and I would be more than happy to speak to Sheikh Jassim or to Jim Ratcliffe or any other investor about how we could work together."

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