The Chairman of INEOS, Sir Jim Ratcliffe, may be forced into selling his Manchester United shares within 18 months of completing his partial takeover from the Glazers family.
New documents revealed new rules surrounding the partial takeover of Sir Jim Ratcliffe. The document read, "For so long as the Glazer parties are the majority holders, following the date that is 18 months after the closing date and in connection with any sale of the entire company. The Company Board may require the Trawlers party to sell all of their ordinary company shares and take such other actions as are reasonably necessary to effect the full sale."
"If the sale occurs within three years of the closing of the offer, the Trawlers parties must receive at least $33 per share, which is the same price as the offer price."
The Glazers will be able to sell the club when the period is up. Sir Jim Ratcliffe May initially refused the sale, and a sale cannot be instigated without the written consent of his Trawler LTD company.
The danger is that a higher bid, which is more powerful than Sir Jim Ratcliffe's £1.3 billion shares, may come in, leaving him with no option but to sell his shares.
He wouldn't be able to buy the whole football club and become the sole owner of Manchester United.
However, if he wants to get a chance at total takeover of Manchester United in the next 18 months, he has to match the highest bid or lose his stake.
Ratcliffe's 25% takeover of Manchester United shares worth £1.3 billion was announced on December 24, 2023. The British billionaire was allowed to control his childhood club, Manchester United, as the club's head of sporting operations.
However, the deal is yet to be finalized by the Premier League, although the proposal is expected to be approved around mid-February 2024.
The 71-year-old British billionaire came to Old Trafford to watch the Manchester United match against Tottenham Hotspur on January 14, 2024, which ended in a 2-2 draw. Jim Ratcliffe was seen alongside legendary manager Sir Alex Ferguson.
In addition, the billionaire was also seen in and out of the Carrington training grounds.
Sir Jim Ratcliffe has a lot of work to do to make Manchester United compete for silverware again in Europe. The club are currently suffering from inconsistency; they have failed to beat any of the top six teams in the Premier League away from home.
They also crashed out of the Champions League in the group stage despite scoring 12 goals. Manchester United spectators are expecting a huge change in terms of performances on the pitch.
Manchester United are expected to have new sporting directors and CEOs to run the football activities of the club.
What do you think about Sir Jim Ratcliffe Minority Shares? Air your views in the comments section.
New documents revealed new rules surrounding the partial takeover of Sir Jim Ratcliffe. The document read, "For so long as the Glazer parties are the majority holders, following the date that is 18 months after the closing date and in connection with any sale of the entire company. The Company Board may require the Trawlers party to sell all of their ordinary company shares and take such other actions as are reasonably necessary to effect the full sale."
"If the sale occurs within three years of the closing of the offer, the Trawlers parties must receive at least $33 per share, which is the same price as the offer price."
The Glazers will be able to sell the club when the period is up. Sir Jim Ratcliffe May initially refused the sale, and a sale cannot be instigated without the written consent of his Trawler LTD company.
The danger is that a higher bid, which is more powerful than Sir Jim Ratcliffe's £1.3 billion shares, may come in, leaving him with no option but to sell his shares.
He wouldn't be able to buy the whole football club and become the sole owner of Manchester United.
However, if he wants to get a chance at total takeover of Manchester United in the next 18 months, he has to match the highest bid or lose his stake.
Ratcliffe's 25% takeover of Manchester United shares worth £1.3 billion was announced on December 24, 2023. The British billionaire was allowed to control his childhood club, Manchester United, as the club's head of sporting operations.
However, the deal is yet to be finalized by the Premier League, although the proposal is expected to be approved around mid-February 2024.
The 71-year-old British billionaire came to Old Trafford to watch the Manchester United match against Tottenham Hotspur on January 14, 2024, which ended in a 2-2 draw. Jim Ratcliffe was seen alongside legendary manager Sir Alex Ferguson.
In addition, the billionaire was also seen in and out of the Carrington training grounds.
Sir Jim Ratcliffe has a lot of work to do to make Manchester United compete for silverware again in Europe. The club are currently suffering from inconsistency; they have failed to beat any of the top six teams in the Premier League away from home.
They also crashed out of the Champions League in the group stage despite scoring 12 goals. Manchester United spectators are expecting a huge change in terms of performances on the pitch.
Manchester United are expected to have new sporting directors and CEOs to run the football activities of the club.
What do you think about Sir Jim Ratcliffe Minority Shares? Air your views in the comments section.