Even after Sir Jim Ratcliffe acquires a 25 per cent minority stake in Manchester United, co-owner Joel Glazer will maintain his involvement in the club’s sports-related decisions as per the Times.
Last week, Sheikh Jassim withdrew from the takeover competition when the Glazers declined to agree to a permanent sale at the suggested price. Sir Jim Ratcliffe is now the leading candidate to invest in the club.
While it was earlier stated he would have full control over the sporting aspect of the business, it appears that Joel Glazer, the current co-chairman alongside Avram Glazer, will be part of a three-man football committee with Ratcliffe and Sir Dave Brailsford.
This may not necessarily be a cause for concern for United fans, as the British billionaire and the former British Cycling boss will ultimately hold the final decision-making authority.
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At present, it could take approximately two to three weeks before Ratcliffe’s proposal is submitted for approval by the Premier League.
Additionally, meeting New York Stock Exchange (NYSE) requirements might extend the process by about eight more weeks.
Ratcliffe’s offer to acquire a minority stake in the club has garnered a mixed response from Man United fans, as many were hoping for a full takeover of the club.
This means that the Glazers will retain their position as majority shareholders, but Ratcliffe has plans to acquire more shares in the years ahead.
As a part of the agreement, Ratcliffe has requested control over football-related decisions. The key question revolves around the extent of influence Joel Glazer would have on the club’s transfer activities.
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The American owners haven’t invested any of their own funds, and a portion of the fanbase would rather they not be involved in decision-making.
At this point, we must be patient and observe how things unfold. There might be delays in Ratcliffe’s deal that extend beyond January, particularly considering United’s presence on the New York Stock Exchange (NYSE), which could result in a more extended takeover process.
