Sir Jim Ratcliffe wants to buy a controlling stake in Manchester United that will allow the Glazer family to remain minority shareholders.
He made a £5 billion bid in the recently concluded third round of offers for the club.
Sky News has revealed that his offer includes ‘put-and-call options which could force the Glazer family to sell their remaining shares in 2026’.
The first specific date to exercise the option is set for three years after the completion of the deal.
Subsequent dates are also established if both parties choose not to use the first exercisable window.
The buyout clause will boost Ratcliffe’s popularity
Ratcliffe is facing a backlash from a section of Man United supporters after it came to light that his takeover bid permits the Glazers to stay at the club.
The United faithful are desperate to see the back of the American owners who have been in charge since 2005.
With put-and-call options in place, the British billionaire will have the power to buy Glazers’ remaining stake and push them out of the club.
This clause will also support the ambitions of the current owners, who are looking to benefit from the positivity Erik ten Hag has brought to the club.
They think that Ten Hag could help the club succeed on the pitch, which will boost United’s share price in the future.
If it does, the Glazers will have the option to make more money by selling their stake at a higher price.
Ratcliffe is facing competition from Sheikh Jassim’s Qatari consortium, which has proposed to buy 100% of the club.
The Glazers have received four other offers for minority stakes.
