The Glazers and Sir Jim Ratcliffe have reportedly made an agreement not to criticise eachother following the INEOS owner’s impending partial takeover at United.
Ratcliffe’s purchase of a 25 per cent share of the club for £1.3billion was completed on Christmas Eve after months of negotiations and Premier League ratification of the deal in the new year will see the petrochemicals magnate take control of football operations.
Mail Sport already revealed that United must consult Ratcliffe if they want to sack Erik ten Hag or sign any players while the INEOS investment is being ratified.
According to The Times, included in the document is a section that says Ratcliffe’s Trawlers Limited can not to 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’.
Sir Jim Ratcliffe’s bid to purchase 25 per cent stake in United was confirmed on Christmas Eve
As part of his arrival, a deal has been made between the Glazers and Ratcliffe that they will not publicly criticise one another
The outlet also report that the document that the Glazer family must, similarly, refrain from any public criticism of their new investor too.
Meanwhile, in the wake of Ratcliffe’s impending arrival, the Glazers reportedly wrote to Man United staff to instruct them not to discuss Ratcliffe’s minority takeover.
The Daily Star claim that the club chiefs sent an email to all employees warning them not to talk to the media, friends or even their own families about Ratcliffe’s £1.3billion investment in the club.
The letter reportedly read: ‘Please note that there are certain legal rules that govern permissible communications during this process. Accordingly, please avoid commenting on this transaction on any social media channels.
‘If you are approached by the media, please refrain from commenting, and refer all inquiries to Ellie Norman, Chief Communications Officer.
‘In addition, if you are asked about this transaction by friends or family, you may refer to the information that is publicly available on the Manchester United website, but please do not make any speculative comments or insert your own opinions or beliefs regarding the transaction.
‘Best wishes, Joel Glazer & Avram Glazer. On behalf of the MUFC Board’.
Sir Jim Ratcliffe’s £1.3billion buy-out of 25 per cent of Manchester United was confirmed on Christmas Eve with the Ineos billionaire taking charge of the club’s football operations
It will take between four to six weeks for the 71-year-old to pass the Premier League’s first and proper person test, and for the NYSE to oversee the sale of 25 per cent of the club’s Class A shares that Ratcliffe will acquire from investors in addition to the 25 per cent of Class B shares he is buying from the Glazer family.
During that period, the petrochemicals billionaire and his INEOS team will have to give their consent for United to sign any players in the January transfer window or sack Ten Hag or football director John Murtough.
The document states that INEOS must be told if United consider ‘appointing, dismissing or accepting the resignation of any Director of Football or First Team Manager of the Company and/or any of its Subsidiaries’.
