The Glazer family has banned all Manchester United staff from discussing publicly and privately the £1. 3 billion deal to sell a 25% stake in the club to Sir Jim Ratcliffe. The INEOS founder’s investment was, however, approved on Christmas Eve and is now subject to ratification via the Premier League in the new year.
INEOS will immediately take control of all football operations across the men’s, women’s and academy teams.
The Glazers will have to consult Ratcliffe and his confidants without delay on all sporting decisions, adding the January move window, even though Premier League approval is expected to take up to six weeks.
The announcement came a year after the U. S. indicated it had begun a strategic review in November 2022.
The complex nature of the deal, which will see Ratcliffe’s stake rise to 29 percent once his arrival is confirmed, has contributed to the slow pace of the process.
And the Glazers have taken measures to ensure United’s employees don’t discuss the investment with the media or even their friends and family.
After United announced Ratcliffe’s agreement at 4pm on Christmas Eve, staff members received the memo signed off by Joel and Avram Glazer on behalf of the club’s board.
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“Please note that there are certain legal regulations that govern what communications are allowed in this process. Therefore, please avoid commenting on this transaction on social media,” the email reads.
“If you are contacted by someone through the media, please do not comment and please send all your inquiries to Ellie Norman, Director of Communications.
“In addition, if you have friends or family asking you about this transaction, you can publicly consult the information available on Manchester United’s website, but do not make speculative comments or insert your own comments or ideas about it. to the transaction.
“Best wishes, Joel Glazer and Avram Glazer. On behalf of the MUFC Board.”
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Ratcliffe is investing his own wealth in the club he has supported all his life through a wholly-owned takeover company, Trawlers Ltd, named after a prominent quote by Eric Cantona.
He also set aside more than £235 million to start the redevelopment of Old Trafford.
The 71-year-old tycoon has delegated seats on the football board to key INEOS figures, Sir Dave Brailsford and Jean-Claude Blanc, strongly linked to the currently vacant chief executive role.
John Reece, Chief Financial Officer of INEOS, and Rob Nevin, President of INEOS Sport, will serve on PLC’s board of directors.
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