Shortly after Manchester United's 3-2 win over Aston Villa, an agreement for the club's takeover has been submitted to the US ** Trade Commission. Under the agreement, Sir Jim Ratcliffe and INEOS will lead the club's managerial changes and transfers. The agreement is already in effect, with the Ten Hag boss not sacked and players not allowed to be bought or sold unless endorsed by Ratcliffe and INEOS. According to the British newspaper The Independent, the 71-year-old second richest man in Britain has reached an agreement with the Glazer family. If the United owner wants to cancel the deal, he must pay Ratcliffe £37.6 million in liquidated damages, plus £14.1 million in compensation, within three working days. This 13The £500 million deal for Manchester United's 25 per cent stake is subject to two rounds of review, one of which is the New York Stock Exchange, where the Red Devils are listed. Subsequently, the Premier League will also need to approve the acquisition before Ratcliffe can officially take over, which is expected to take four to six weeks. While the agreement is pending approval, United must not sack Ten Hag or make major signings without INEOS advice.
Under the terms of the agreement between Ratcliffe and the Glazer family, the six Glazer siblings agreed to hand over full control of the club's football operations to Ratcliffe and INEOS. No decision can be made about Ten Hag's future or the buying or selling of players without consulting the other side. After the transaction is completed, if Ratcliffe delivers on its promise, invest 2The £4.5 billion revamp of Old Trafford will see the Glazer family's stake in Manchester United further reduced to 49 per cent, while Ratcliffe has a 29 per cent stake. The two sides also agreed on three chapters: 1. No dividends will be paid for at least three years, priority will be given to investing in the first team and upgrading the home stadium of Old Trafford;2. The Glazer family may require Ratcliffe to comply with the future outright agreement after 18 months under the so-called towing right clause;3. If the Glazer family chooses more Manchester United B shares with 10 times the voting rights in their hands in the future, Ratcliffe will have a one-year right of first refusal. The 241-page document, released to the US ** Trade Commission, shows that the club cannot appoint, sack or accept the resignation of any football director or first-team manager, nor buy or sell players, without discussing it with Ratcliffe and his team.
Manchester United's comeback win over Villa has lowered the pressure on Ten Hag. It is well known that the 53-year-old Dutch coach has the backing of the current hierarchy, as he is the manager chosen by the current group of managers. Manchester United boss Erik ten Hag's future is in the spotlight and INEOS sporting director plans to appoint a new director of football to replace the current John Mertaugh. Ten Hag's long-term prospects will be closely watched, particularly if he can finish in the top four or five in the Premier League this season to secure a place in the Champions League next season. If he fails to do so, he could face sacking, as the United manager's contracts usually contain clauses that will leave him if he does not qualify for the Champions League. INEOS sporting director Sir Dave Brailsford has completed the approval of the acquisition and will join the club's football board. Ten Hag is looking forward to working with him, but if he fails to lead the team to the Champions League, then sacking is a matter of course. In addition, Ten Hag will need to be involved in deciding where Jadon Sancho will stay during the winter transfer window in January. Since the Glazer family bought Manchester United, more than 1£500 million in dividends.
Despite this, Rajue's agreement with the Glazer family stipulates that no dividends will be paid for at least the next three years, and the money will be prioritized for investing in infrastructure and team strengthening. The decision is likely to be warmly welcomed by the fans. Rajue promised to pay out of his own pocket for an additional 2£3.7 billion was spent on refurbishing Old Trafford, but he was also well aware that modernising the Theatre of Dreams would require much larger investment, with a total expected to exceed £1 billion. In addition, if the Glazer family chooses to have more Manchester United B shares in the future, Rajue will have a 12-month right of first refusal. However, if he renounces this interest, the Glazer family can force him to be **in their own hands**, provided he receives a cash offer of £26 per share. This is known as the right to tow and is a common transfer agreement provision that allows a majority shareholder to compel a minority shareholder to participate in an action to a third-party ** company. A majority shareholder exercising the towing right must provide the minority shareholder with the same terms and conditions as the other sellers. The Glazer remains a major shareholder in the trawler company, according to a U.S. ** Exchange Commission filing.
Within 18 months of the closing of the transaction, if the company's board of directors decides to fully **** the trawler company (which was set up to acquire Manchester United) (which was set up to acquire Manchester United), the company may be required to ** all of its ordinary shares and take all reasonable steps to ensure the full ownership of the shares, according to the filing.