Stefan Borson: Sir Jim Ratcliffe could agree Man United takeover deal after clause revealed
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James Murray
Mon 15 September 2025 17:00, UK
Manchester United co-owner Sir Jim Ratcliffe could look to agree a full takeover deal after a Glazers clause has been revealed.
Ratcliffe purchased a 27.7 per cent stake in Man United in February 2024 after agreeing a £1.25billion deal with the Glazers, valuing the club at close to £5bn.
The Glazers’s drag-along rights in Man United came into effect on 13 August, 18 months after their deal with Ratcliffe was agreed.
It gives the American family the power to sell their stake and also force Ratcliffe into a sale in a full takeover of the club.
Former Man City financial adviser Stefan Borson exclusively told Football Insider Ratcliffe could arrange a behind-the-scenes deal to avoid a third-party swooping in to take over at Old Trafford.
Credit: Imago
Ratcliffe has increased his stake in Man United to 28.9 per cent after injecting £238million since initially investing in the club.
Meanwhile, the Glazers, who bought a 98 per cent stake at Old Trafford in 2005 for £790m, have since seen their shareholding diluted to 48.9 per cent.
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Speaking exclusively to Football Insider about the Glazers activating their drag-along rights, Borson said: “I think it’s almost zero chance at the moment.
“I just don’t think it’s very likely that out of the blue somebody says here’s an offer for United.
“But I think it’s very unlikely at this sort of value, just because it needs such an enormous amount of money to do this deal at the sort of level that Ratcliffe did his first tranche at, but we’ll see over time.”
Ratcliffe secured his stake in Man United ahead of Sheikh Jassim, who wanted to secure a full takeover but failed to provide proof of funds.
Football Insider revealed on 11 September the Glazers are unlikely to agree a Man United takeover in the near future.
However, it is believed they could be more open to a deal once progress is made on constructing the club’s new stadium.
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Man United have announced plans to build a 100,000-seater stadium as part of the government’s regeneration of the Old Trafford area.