Sir Jim Ratcliffe agrees to bizarre gagging order about hated Glazer family ahead of £1.3bn Man Utd investment
SIR JIM RATCLIFFE cannot publicly criticise Manchester United’s owners, the Glazer family, following his 25 per cent takeover of the club.
It was confirmed on Christmas Eve that the British billionaire’s minority takeover of the club had been agreed and is in the process of being signed.
The deal ensures the Glazers – unpopular with the Red Devils’ fanbase – remain in control, but they have passed the football operations over to Ratcliffe.
And among the details of the 241-page document is a paragraph outlining that both Ratcliffe and the Glazers cannot publicly criticise one another.
According to The Times, the agreement contains a section which says Ratcliffe’s company Trawlers Limited will not make public statements that “constitute an ad hominem attack on, criticise, or otherwise disparage, the sellers [The Glazers], the company [United] or their respective affiliates”.
The same conditions also apply to the Glazers, with the document submitted to the New York Stock Exchange stating they must “refrain from any public criticism of their new investor”.
Ratcliffe’s 25 per cent acquisition came at a price of £1.3billion.
It has also been reported his final share of the club will grow to 29 per cent “if the completion process goes to plan”.
Ratcliffe is set to invest £237million into the club and will have two of his most trusted lieutenants keeping a close eye on the club from January.
Former British Cycling and Team Sky boss Dave Brailsford, who headed up Ratcliffe’s takeover of Nice, will join the board.
CASINO SPECIAL – BEST CASINO WELCOME OFFERS
He will be joined by Jean-Claude Blanc – Ratcliffe’s CEO at Ineos Sport.
Brailsford was in the directors’ box for Man Utd’s thrilling 3-2 win over Aston Villa on Boxing Day.
It is understood the ratification process of Ratcliffe’s takeover could take up to two months.
During this period, Ineos must be alerted to any sporting decisions made by the Glazers.
This includes transfers such as the potential departure of Jadon Sancho.
The investment vehicle used by Ratcliffe to complete the deal – Trawlers Limited – is named after an iconic speech made by Man Utd legend Eric Cantona following his infamous kung-fu kick back in 1995.
After the announcement, boyhood Man Utd fan Ratcliffe 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.
“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.”
Despite Tuesday’s comeback win over Villa, Man Utd remain six points adrift of the Premier League‘s top four.
Erik ten Hag‘s men were also eliminated in the group stage of the Champions League after just one win from six games.