Manchester United MUST consult Sir Jim Ratcliffe if they want to sack Erik ten Hag while the INEOS owner’s £1.3billion investment is being ratified – with approval process set to take between four and six weeks
- Last week Sir Jim Ratcliffe announced a £1.3 billion investment in Man United
- It will take four to six weeks for Ratcliffe's partial takeover to be finalized
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Manchester United must consult Sir Jim Ratcliffe if they want to offload Erik ten Hag or sign players as the INEOS owner's £1.3 billion investment is sanctioned.
The clause came to light in a 241-page deal document published on the New York Stock Exchange after it was announced on Christmas Eve that Ratcliffe will buy a quarter of the club and take charge of football operations at Old Trafford.
It will take four to six weeks for the 71-year-old to pass the Premier League's first and proper person test, and for the NYSE to oversee the sale of 25 percent of the club's Class A shares that Ratcliffe will acquire from investors . in addition to the 25 percent of Class B shares he is purchasing from the Glazer family.
During that period, the petrochemical billionaire and his INEOS team will have to give United permission to sign players in the January transfer window or sack Ten Hag or football director John Murtough.
The document states that INEOS must be notified if United considers 'appointing, dismissing or accepting the resignation of a football director or first team manager of the company and/or any of its subsidiaries'.
Man United will have to consult Sir Jim Ratcliffe if they want to sack Erik ten Hag (above)
Sir Jim Ratcliffe's bid to buy a 25 percent stake in United was confirmed on Christmas Eve
Murtough is expected to step aside in time to make way for a new director of football but could be given an alternative role at the club.
Ten Hag's position is seen as vulnerable following Ratcliffe's investment, but the Dutchman got the new era off to a good start as United came from behind to beat Aston Villa 3-2 on Tuesday evening for INEOS sporting director Sir Dave Brailsford.
Afterwards, Ten Hag welcomed the deal, saying: 'I don't think it has had an impact on the players. For me, I was kept informed throughout the process so I knew what was going on. We are looking forward to it. I think it is positive for the club that they intervene.
'They have a lot of experience in sport at the highest level: Formula 1, a cycling team, football clubs. They can only help and support us to achieve our goals. They want to work with us and we want to work with them.”
