SIR JIM RATCLIFFE’S 25 per cent stake in Manchester United could turn into a complete takeover thanks to a clause in the agreement.
British billionaire Ratcliffe, 71, was confirmed as having acquired a minority stake in the Red Devils on Sunday.
It was also revealed he will take charge of the footballing operations at Old Trafford.
But the 25 per cent stake could well lead to a complete takeover in the coming years.
That’s because, according to The Mail, a clause in the deal says that if the Glazers want to sell then they first have to offer their shares to Ratcliffe.
Ratcliffe was initially interested in a majority stake, before he settled for 25 per cent – which cost him £1.3billion.
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Man Utd fans are keen to end the Glazers reign after 18 years at the helm.
Red Devils supporters have held a number of protests against the family in that time.
And they could finally see the back of them if they choose to sell their remaining shares to Ratcliffe – who is a boyhood Man Utd fan.
Following his 25 per cent takeover, the Brit said: “As a local boy and a lifelong supporter of the club, I am very pleased that we have been able to agree a deal with the Manchester United board that delegates us management responsibility of the football operations of the club.
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“Whilst the commercial success of the club has ensured there have always been available funds to win trophies at the highest level, this potential has not been fully unlocked in recent times.
“We will bring the global knowledge, expertise and talent from the wider INEOS Sport group to help drive further improvement at the club, while also providing funds intended to enable future investment into Old Trafford.
“We are here for the long term and recognise that a lot of challenges and hard work lie ahead, which we will approach with rigour, professionalism and passion.
“We are committed to working with everyone at the club – the board, staff, players and fans – to help drive the club forward.
“Our shared ambition is clear: we all want to see Manchester United back where we belong, at the very top of English, European and world football.”
Source: Soccer - thesun.co.uk
