Sir Jim Ratcliffe’s investment in Manchester United may face delays until after Christmas due to concerns about the treatment of minority stakeholders, particularly in transactions between Ratcliffe and the Glazers.
The board reportedly has worries about potential privileges granted to the Glazers that might not be extended to other shareholders, per the Manchester Evening News.
The reported deal approval before Christmas seems unlikely as the Financial Times refutes the idea, citing concerns about the treatment of minority shareholders as a hindrance to the progression of the deal. Delays are attributed to worries about potential privileges for the Glazers that may not be afforded to other shareholders, causing discussions around the terms and conditions.
Concerns arise about the treatment of United’s public shareholders in potential future transactions between Ratcliffe and the Glazers. The discrepancy in voting power between A stock, held by the public, and B shares, exclusively owned by the Glazers, fuels unease about potential privileges that might be granted to the American family. These concerns contribute to the ongoing delays in finalising the deal.
The ongoing debate reflects the delicate balance of managing the interests of minority shareholders against the backdrop of majority ownership. While confidence exists in finding a resolution, the opposition remains strong against any perceived undercutting of minority shareholders.
Everything just seems to be a mess at the moment at Man United, on the field and off the field. For a team called United, where is the unity?