Man Utd: Glazer 'attacks' banned as Ratcliffe agrees 'non

Man Utd: Glazer 'attacks' banned as Ratcliffe agrees 'non

2024-05-20 13:58:16 Source:The Final Whistle
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Sir Jim Ratcliffe has been banned from making ‘ad hominem attacks’ on the Glazer family as part of his agreement to take a minority stake in Manchester United.

Ratcliffe has reached an agreement to buy a 25 per cent stake in the club for £1.3bn, which will become 29 per cent when his £250m investment into the infrastructure at United in converted into more shares.

The Telegraph revealed on Wednesday that Man Utd ‘could not sack Erik ten Hag or make a significant signing without consulting Ineos’and a later report by the same publication explained that Ratcliffe and the Glazers have also agreed a ‘mutual non-disparagement’ clause.

It means Ratcliffe con’t be able to call out the Glazers for their inadequacies – which has become commonplace among fans and pundits in their reign at Old Trafford – with the clause ensuring that any ‘ill feeling and hostilities’ are not made public whilst they are operating together.

The petrochemicals boss has reportedly assured the Glazer family that his representatives and any colleagues will also abide by the clause, which states that no one shall ‘in any manner, directly or indirectly, make or cause to be public any public statement or announcement that relates to or constitutes an ad hominem attack on, criticises or otherwise disparages’ the Glazers or United as a club.

It was also revealed that Ratcliffe will receive a significant wedge of cash should the Glazers decide to pull the plug on the deal before the Premier League can approve his investment.

They will have to pay Ratcliffe $48m plus an amount not to exceed $18m to cover his expenses within three business days as a termination fee.

Ratcliffe also has the first option to buy if the Glazers, whose stake will be reduced to 49 per cent of the club, are selling more of their shares within a year.

But if the Glazers conclude a full sale of the club in 18 months time, the Ineos boss would be obliged to sell his shares for $33 each, the price he paid for them, in what is known as a ‘drag-along’.

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