Glazers explore Manchester United sale that could force Ratcliffe out by 2027

The Glazer family is actively exploring a sale of their Manchester United shares, Bloomberg reported this week, reviving the prospect of a full takeover that could push Sir Jim Ratcliffe out of Old Trafford. Internal discussions among family members suggest certain Glazers are increasingly motivated to cash in on their Premier League asset, with prospective suitors from the Middle East and the United States said to be monitoring the situation.

The legal mechanism that makes this possible is a drag-along clause embedded in Ratcliffe’s partial takeover, completed in February 2024. Under its terms, if a buyer agrees to pay at least £26 per share — the same price Ratcliffe paid for his roughly 28.9 per cent stake — within three years of that deal closing, the Glazers can compel Ratcliffe to sell his shares to that buyer. Ratcliffe does hold a Right of First Offer, meaning he can choose to match the price himself rather than be dragged out, but the clause nonetheless gives any serious bidder a viable route to full ownership.

The February 2027 deadline carries significant weight. After that date, the £26-per-share floor drops entirely, freeing the Glazers to negotiate a sale at a lower price. With United shares currently trading at around £16.80 on the New York Stock Exchange, Ratcliffe would stand to gain considerably more by exercising his Right of First Offer post-February 2027 than before it — which in turn creates a window in which the Glazers are most incentivised to accept offers above market price.

Sheikh Jassim bin Hamad Al Thani, the Qatari financier who was Ratcliffe’s principal rival during the 2023–24 takeover process, has previously been confirmed as having no interest in a partial stake or a partnership arrangement. Any bid from his camp would therefore require a full buyout, making Ratcliffe’s exit a precondition rather than a side effect.

Joel and Avram Glazer serve as executive co-chairmen at United, with siblings Darcie, Kevin, Bryan and Edward sitting on the board as directors. The family has owned the club since 2005 and has faced sustained supporter opposition throughout that period.

United’s share price could yet rise before any deal materialises. The club secured a third-place Premier League finish under Michael Carrick and will return to the Champions League next season, developments that could lift their market valuation and alter the calculus for both the Glazers and any prospective buyer.