Manchester United must consult with Ineos over any January transfer deals or a move to sack manager Erik ten Hag prior to the Premier League ratifying its deal to purchase 25 per cent of the club’s shares.
United announced on Christmas Eve that an agreement had been reached with Ineos and its chairman Sir Jim Ratcliffe, a boyhood Red Devils fan, which will give Ineos responsibility over football operations once the regulatory approval process is complete.
That is expected to take four to six weeks and run beyond the end of the January transfer window.
However, the United States Securities and Exchange Commission (SEC) filing related to the deal contains a provision guaranteeing that the company will be consulted on football matters in the interim.
This includes “appointing, dismissing or accepting the resignation of any director of football or first team manager of the company” as well as entering into or continuing any discussion concerning the purchase or sale of any player.
The SEC filing also contains a provision which would allow the Glazers, who still have majority control of the club, to force a full sale if they received an offer for their shares which Ratcliffe was unwilling to match. Ratcliffe has first refusal on the purchase of those shares.
