Manchester United owner Jim Ratcliffe forced to pay Tottenham £11 million

The consequences for Ratcliffe could have been much worse.

Details: According to The Telegraph, Manchester United owner Jim Ratcliffe has agreed to pay Tottenham's management over £11 million just to expedite the ongoing legal process between the two parties.

The court dispute arose from a breach by INEOS, Ratcliffe’s company, of a five-year contract signed in 2022. Reports indicate that after Ratcliffe acquired shares in Manchester United, he withdrew from the agreement with Tottenham, which was valued at €17.5 million.

The English businessman will now have to pay compensation for breaking the contract.

Jim Ratcliffe purchased a 25% stake in Manchester United on December 24, 2023, and by February 20, 2024, his INEOS company had completed the acquisition of 27.7% of Manchester United shares. The Glazer family remains the majority shareholder, but Ratcliffe has become the club’s largest single shareholder.

Reminder: No rush to sell: Manchester United unlikely to see new owners any time soon