The billionaire petrochemicals tycoon Sir Jim Ratcliffe is proposing a full buyout of Manchester United Football Club after three years if he succeeds with a £5bn offer to take control of the Old Trafford outfit.
Sky News has learnt that the Ineos billionaire’s takeover bid includes put-and-call arrangements which would become exercisable in 2026, and which would pave the way for the Glazer family’s complete exit as shareholders.
The disclosure comes just over a week after the Glazers – who have controlled United since 2005 – sought a third round of offers for the club.
Sources said this weekend that Sir Jim’s offer for majority ownership would include the put-and-call options, which if triggered would either force the Glazers to sell their remaining shares to him, or force him to acquire them, at specified future dates.
One insider said the first window to exercise the option would occur three years after the deal completed, with subsequent periods built into the transaction if the first one was not used by either side.
The news may appease some members of United’s fan-base who are implacably opposed to the Glazers retaining an interest in the club they bought for just under £800m in 2005.
The executive co-chairmen, Avram and Joel Glazer, are said to be more reluctant to sell than their siblings, prompting Ineos to structure an offer which would allow them to remain as influential shareholders.
A rival bid, from Sheikh Jassim bin Hamad al-Thani, a Qatari businessman who chairs the Gulf state’s Qatar Islamic Bank, is proposing to buy the entirety of United’s share capital.
Recent reports have suggested that on a valuation basis, Ineos Sport’s offer is higher, although concrete details of the two proposals remain unclear.
Some people involved in the deal expect a decision about a preferred bidder to be made this month.
Later in May, the Red Devils…
