“Man United are reportedly ‘back on the market’ as fresh positions from Sir Jim Ratcliffe and Qatari royal Sheikh Jassim bin Hamad al-Thani come to light.”

According to Mike Keegan of the Daily Mail, Man United subtly returned ‘to the market’ last Wednesday, triggered by a clause agreed between the Glazers and Sir Jim Ratcliffe when he was confirmed as co-owner in February 2024.

The clause, known as the ‘drag-along right,’ was designed to prevent minority shareholders from obstructing deals backed by the majority. For United, this effectively removes Ratcliffe’s ability to block a potential sale should the Glazers decide to offload the club.

This clause was scheduled to take effect 18 months after Ratcliffe’s partial takeover at United. It gives the Glazers the authority not only to sell their own shares in the club but also to compel the INEOS chief to do likewise. Keegan notes that while Ratcliffe is well aware of the provision, there’s no indication so far that the Glazers intend to use it.

The drag-along right guarantees Ratcliffe the same price offered to others holding his class of shares. Should a sale occur within three years, a floor of $33 per share applies—the same amount Ratcliffe originally paid 18 months earlier.

Ratcliffe and the Glazers are believed to have a cordial relationship.

A source told the Daily Mail, “They absolutely get on. So much so that Jim has flown over to the US on multiple occasions to have board meetings on their doorstep. They are like-minded people.”

“Ineos have come in, recognised that the business was bloated and have carried out the necessary measures to make it something approaching lean. They have also taken all the flak for that and for the first time in a long time, someone other than the Glazers has been taking the hits from the fanbase.”

“That hasn’t gone unnoticed. To add to that, they have taken control of all football operations and are effectively running that side of the business, so that eases another headache. Then there’s the new stadium, which Ineos is attempting to find the funding for.”

“They have attracted the big-hitters to the project, such as Lord Coe, they appear to have political backing locally and they are getting on with it.”

The insider added, “Then there’s also the investment, which came as part of the deal. Sir Jim has put in $300m of his own money, which has paid for the £50m upgrade to Carrington. It has been a very long time since someone has put some money into Man United rather than take it out. To put it simply, if you’re the Glazers, what is not to like?”

With United potentially back on the market, speculation has emerged over whether Sheikh Jassim might reignite his pursuit of a full takeover.

The Qatari banker had previously gone head-to-head with Ratcliffe in the bidding process but ultimately lost out, as the Brit’s minority offer placed a higher valuation on the club.

However, Keegan makes clear that Sheikh Jassim has “zero interest” in revisiting the deal, as his attention is now directed toward other “mega projects.”

A source divulged to the newspaper, “Things have changed and the project would be seen as even more difficult now for a few reasons, not least because there’s a belief the standard of the Premier League has improved and it would be more difficult to turn things around.”

“There’s other priorities now. The Qatar universe is doing well, they are on with different projects.”

Despite a turbulent beginning at Old Trafford, Ratcliffe and INEOS have no plans to walk away.

They are described as having “zero appetite” to sell and remain committed to steering Man United back to their former heights as swiftly as possible. Ratcliffe believes the most difficult phase has already been navigated, and that the club could soon begin to see the rewards of the firm steps taken.