Revealed: The eye-popping fee the Glazer family will have to pay Sir Jim Ratcliffe if takeover falls through

The British billionaire and his INEOS group would have to be paid $66 million (£52m) by United and the Glazer family if the agreement were to fall apart, The Independent reports. The figure is made up of an initial €48m (£38m) that Ratcliffe would be entitled to, plus a further $18m (£14m) to cover his expenses.

United announced on Christmas Eve that Ratcliffe and the Glazers have reached an agreement worth £1.25 billion ($1.59bn) that will see him take on a 25 percent stake, which will rise to 29% as his $300m (£235m) investment into the infrastructure of United will be converted into more shares.

The British billionaire will also have the first option to buy more shares from the American owners if they decide to sell them in the future. However, if they agree a full sale of the club, Ratcliffe will have to sell his shares for the same price he paid for them.

The process to ratify the deal could take up to eight weeks, meaning it may not be finalised until after January. Nevertheless, United must consult INEOS regarding any possible transfer business they want to conduct during the transfer window.