The Glazer family could choose to sell Man Utd within “a few months”, even without the say-so of minority stakeholder Sir Jim Ratcliffe, according to financial expert Adam Williams.

Speaking to United In Focus, Williams gave some extra detail after Bloomberg reported that some of the Glazers are keen on exiting the club:

“The drag-along rights, as they’re called in business, are a matter of public record, detailed in the SEC filings that United are obliged to make by virtue of being on the New York Stock Exchange. Under those terms, the Glazers can drag Ratcliffe into a full sale of the club, as long as it is 18 months after his investment was made. We’re a few months out from that juncture now.”

“Also, there is another timeline in the rights that stipulates that, if the Glazers sell before February 2027, the price Ratcliffe gets per share must be $33 per share or more, which is what he paid, so he’d at least make his money back. If a sale goes through after February 2027, however, they can drag him into a sale at whatever price they like.”

“So, the Glazers basically have the high card. If the board – which is made up of six Glazers, two Ineos representatives and two non-executives – accepts an offer that is within the scope of the drag-along rights, Ratcliffe would be compelled to go along with it, whether he likes it or not.”

Glazers are not all on the same page

At the moment, it is believed that only some of the family are on board with the idea of selling up, so while things could change over the coming weeks, nothing is set in stone at this stage.

It is not a coincidence, though, that this news has come out now, shortly before the 18-month period is over. Having sold a minority stake already, some of the Glazers appear to be keen on leaving United entirely.

How will this affect Man Utd’s plans?

In the short term, nothing will change. Ratcliffe was given the responsibility for managing the club’s football operations when he bought his shares.  He will continue in that capacity as long as the status quo on the board remains.

Of course, if the Glazers do opt for a full sale, there could be A LOT of disruption off the pitch, and it remains to be seen how that will impact manager Michael Carrick and the team.

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