<p>A minority stake in Manchester United was agreed to be sold by the Glazer family to the British billionaire Sir Jim Ratcliffe. The catch is that they might end up paying a hefty price if they reconsider.</p>



<p>If the deal for the Englishman to join as a minority stakeholder is terminated, the Glazer family would allegedly be required to pay him a substantial amount. The <a href="https://worldsoccertalk.com/news/united-minority-takeover-ratcliffe-requests-supporters-patience-20231227-WST-479861.html">news broke on Christmas Eve</a> that Ratcliffe’s INEOS Group had agreed to pay almost $1.6 billion to acquire 25 percent of the 20-time English champions.</p>



<p>Although the transfer has been discussed, the Premier League has not yet approved it, therefore it is not officially confirmed. It means that the Glazer family may still pull the plug and turn off the power at this point.</p>



<p>However, in that event, the American owners would have to pay Ratcliffe $48 million, according to <a href="https://www.independent.co.uk/sport/football/jim-ratcliffe-mancheter-united-glazer-family-fee-b2470265.html#Echobox=1703682022" target="_blank" rel="noreferrer noopener">The Independent</a>. The 71-year-old would also be due $18 million to reimburse his expenditures as a termination fee from the <a href="https://worldsoccertalk.com/teams/manchester-united-tv-schedule/">United</a> owners, according to the article. This fee must be paid within three business days.</p>



<h2>United-Ratcliffe: More details on agreement emerge</h2>



<p>It’s believed that Ratcliffe will have a 29 percent ownership part in the club when he invests in its infrastructure, up from 25 percent. He reportedly put up over $300 million, which was later turned into shares. </p>



<p>What’s worth noting is that Sir Jim Ratcliffe is the second-wealthiest individual in Britain with a fortune of about $38 billion.</p>



<p>According to other provisions of the parties’ agreement, Sir Jim will have the first option on purchasing shares from the Glazers if their sales increase within a year. If that happens, their ownership percentage in the club will drop to 49 percent if that happens.</p>



<p>However, the Ineos chief is obligated to sell his shares for the sum he bought for them—$33 each—if the Glazers complete a comprehensive sale of the club within 18 months.</p>



<figure class="wp-block-image size-full"><figure class="image"><img loading="lazy" width="438" height="300" src="https://ds-images.bolavip.com/news/image?src=https://images.worldsoccertalk.com/webp/full/WST_20231230_WST_480511_image-32_fb4253da.webp&amp;width=438&amp;height=300" alt="" class="wp-image-480720" srcset="https://worldsoccertalk.cms.futbolsitesnetwork.com/wp-content/uploads/sites/6/2023/12/image-32.png 438w, https://worldsoccertalk.cms.futbolsitesnetwork.com/wp-content/uploads/sites/6/2023/12/image-32-300x205.png 300w" sizes="(max-width: 438px) 100vw, 438px"></figure><figcaption>The priorities of INEOS following their investment into Manchester United</figcaption></figure>



<h2>Will Ten Hag be safe under Ratcliffe?</h2>



<p>The billionaire will be able to choose two board members: Sir Dave Brailsford, a cycling executive, and Jean-Claude Blanc, a former CEO of Juventus. John Reece, CFO of Ineos, and Rob Nevin, chairman of Ineos Sport, will both be appointed to the PLC board by him.</p>



<p>But thanks to the new structure, United must inform Sir Jim and Ineos before finalizing any deals. That means that without their approval, they can’t dismiss <a href="https://worldsoccertalk.com/news/heat-is-on-for-erik-ten-hag-at-man-utd-surprise-switch-on-cards-20231008-WST-461044.html">Erik ten Hag</a> or John Murtough, the sporting director.</p>



<p>With 13 losses thus far in the 2023-24 season, the Dutchman’s position as manager of Manchester United is still up in the air. Nonetheless, Ten Hag feels sure that Ratcliffe would back him.</p>



<p>“As you said, the schedule is so condensed, so I haven’t had the time so far to speak with them, but it will come, and I look forward [to it]. They want to work with me, and I want to work with them. We will have the conversations, the meetings, so we will see.</p>



<p>“I’m focused on the games so far. So, as I said, in this moment, I don’t want to have distractions but in the coming days, weeks, there will be time for this and then I will know more. But I think it’s a good thing, it’s very positive, we are really looking forward to working together. INEOS wants to work with me, with this infrastructure, and I want to work with them”, <a href="https://www.manutd.com/en/news/detail/erik-ten-hag-team-news-update-for-man-utd-trip-to-nottingham-forest-on-30-december-2023" target="_blank" rel="noreferrer noopener">he told reporters</a>.</p>



<p>Photo credit: IMAGO / Sportimage</p>

Massive fee: Ratcliffe to be compensated if United deal fails

A substantial amount is at stake for the Glazer family in the event that they reconsider their United agreement with Sir Jim Ratcliffe.

Massive fee: Ratcliffe to be compensated if United deal fails - World Soccer Talk


<p>Big spending led to big expectations for Manchester United since the Sir Alex Ferguson era. Couple that with everything the Scot achieved at Old Trafford, and the spotlight on players at Manchester United is brighter than any other club in England. However, the one thing weighing this club down remains the ownership. The Glazer family is the one responsible for Manchester United’s consistent struggles.</p>



<p>Stefan Szymanski, a professor of sport management at the University of Michigan and the author of <em>Soccernomics</em>, says the problem with Manchester United is the quality of management. </p>



<p>“The obvious thing in the case of Manchester United is the quality of the management. And I do not necessarily mean the quality of the coaches, I mean the quality of the organization as a whole,” Szymanski said. “This is an organization where they have managed to make themselves utterly hated by the people they depend on for their income.”</p>



<p>Manchester United has become the model for how not to treat a fan base. There are regular protests at Old Trafford against the American ownership of the club. For example, during the 2020 campaign, <a href="https://worldsoccertalk.com/news/match-delayed-as-man-utd-fans-storm-old-trafford-in-anti-glazer-protest-20210502-CMS-332816.html">supporters stormed into Old Trafford</a> before a game. </p>



<p>Szymanski says this hatred toward the ownership prevents the club from making the right hire. In his eyes, Manchester United’s volatile atmosphere may push away ambitious managers or coaches looking to take the next step in their careers.</p>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<div class="ck-youtube"><iframe loading="lazy" title="Avram Glazer confident in Manchester United&apos;s future with Erik ten Hag" width="500" height="281" src="https://www.youtube.com/embed/YxS9gwmMAiw?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen=""></iframe></div>
</div></figure>



<p>“Maybe the problem is not on the pitch with the players, maybe it is more about the internal management,” Szymanski said. “Maybe it is the fact that knowing everybody hates the owners of the team that affects the players as well.”</p>



<h2>Glazers breed consistent struggles at Manchester United</h2>



<p>The only reason Manchester United put up with the Glazers beforehand was because of Ferguson’s success. United won the lot with the Scot at the helm. His ability to manage his players and effectively control what they did allowed them to handle any outside pressure. That is a rare talent that few coaches have, and Manchester United was the beneficiary of his talent. Without that presence, United’s players faced the scrutiny from supporters head-on.</p>



<p>“In the aftermath of his departure, it is a toxic environment,” Szymanski said. “It is hard to do your best. You’re thinking about all the problems, you’re thinking about what’s right and wrong. You’re getting distracted by the talks of politics. All of these things are having a negative effect. If it is not bad luck, it has as much to do with the quality of ownership of the club.”</p>



<p>Manchester United supporters are then in the precarious situation of both wanting success and wanting change. </p>



<p>“If the team failing would get rid of the Glazers, would they like that? Yes.”</p>



<p>Yet, these fans also want success. Paying for tickets to games and buying merchandise help keep the club afloat. Manchester United fans organized <a href="https://theathletic.com/4795599/2023/08/24/manchester-united-glazers-protests-sit-in-forest/" target="_blank" rel="noreferrer noopener">sit-ins where supporters protested the club’s ownership</a> after games. The Glazers and their technical staff are there to sell a product. That product is success on the field, and it can bring in billions for the club. </p>



<h5>Unlucky transfers</h5>



<p>Much of those billions go back into the club via transfers. Szymanski alluded to luck, which plays a role in how well transfers pan out. Szymanski argues having the <em>Class of ’92</em> and Cristiano Ronaldo, Eric Cantona and Wayne Rooney work so well over the years set too high of a standard. The recent struggles of Manchester United under the Glazers have not been happening for that long in the grand scheme of soccer. </p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<div class="ck-twitter"><blockquote class="twitter-tweet" data-width="500" data-dnt="true"><p lang="en" dir="ltr">Fans protested against the Glazer ownership at Leigh Sports Village as Manchester United hosted Arsenal in the WSL. <a href="https://t.co/WGa5La1Jrh">pic.twitter.com/WGa5La1Jrh</a></p>— Sky Sports News (@SkySportsNews) <a href="https://twitter.com/SkySportsNews/status/1710401892054901222?ref_src=twsrc%5Etfw">October 6, 2023</a></blockquote></div><script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<p>Like other clubs, Manchester United must pick out a handful of players who can become world-class talents. To shorten it, United went to players that had already been proven at other clubs or leagues. Harry Maguire was a great center-back at Hull City and Leicester City. Jadon Sancho was a key component of some great Borussia Dortmund teams. Paul Pogba was in the UEFA Team of the Season in the 2014/15 campaign. </p>



<p>“The ability of individuals is pretty much known by everybody,” Szymanski said. “Unlike a lot of markets where you do not know what you are getting, it is a much more reliable market.”</p>



<p>Perhaps United, in addition to the toxic atmosphere, has been suffering from a string of bad luck in that market. These things will pass, as Szymanski notes this decade of struggles with the Glazers in charge is nothing in the grand scheme of the history of Manchester United. Perhaps it only seems worse than it is because United’s peak was so high. Regardless, the club may need a change in culture to return to that level of success.</p>



<p><em>Photo: Imago</em></p>


Glazers remain at the core of United's decade of struggles

Manchester United has played out a decade of struggles since Sir Alex Ferguson departed, and the blame lies with the Glazers.

ALL POSTS TAGGED "Avram Glazer"

Leagues: EPL

Massive fee: Ratcliffe to be compensated if United deal fails

Leagues: EPL

Glazers remain at the core of United's decade of struggles