The six Glazer siblings would temporarily remain at the club under Sir Jim Ratcliffe’s plan to purchase Manchester United, a factor that is delaying the acquisition deal.
This is according to the report from The Mirror, which states While Sir Jim Ratcliffe aims to purchase a controlling interest in the club, he has proposed that the six Glazer siblings, the current owners, will still remain at the club even after takeover is completed.
However, Ratcliffe’s offer includes a clause that would require the Glazers to depart from the club gradually, with INEOS eventually buying their remaining shares.
According to the report, all six Glazer siblings would retain stakes in Manchester United after Ratcliffe’s takeover. Nevertheless, they would be contractually obligated to permanently exit the club after a certain number of years.
Among the siblings, Bryan, Darcie, Edward, and Kevin are believed to be in favor of a permanent departure, while Joel and Avram maintain a stronger attachment to United. This lack of consensus within the family is contributing to the delay in finalizing the deal.
The proposed process involves Ratcliffe initially acquiring enough shares from the Glazers to gain a controlling stake in Manchester United. In the subsequent phase, he would gradually purchase the remaining shares from the Glazer family over a span of several years.
Glazers to Stay in control?
Initially, some US investment companies, including Elliott Management, the Carlyle Group, and Ares Management, proposed a minority investment in the club.
This arrangement would have allowed the Glazers to retain their positions at the helm of United while providing additional financial resources. However, this option is now considered less likely.
Joel and Avram Glazer had previously favored the idea of an outside investor purchasing a stake in the club to help fund major capital projects, such as the redevelopment of Old Trafford stadium and the Carrington training ground. However, a change in ownership appears to be the more probable outcome at this stage.
