)
Ed Woodward, the ex-Man United CEO, is set to earn mouth-watering amounts of money from the Sir Jim Ratcliffe takeover despite leaving Manchester United 20 months ago.
Ed Woodward could continue to receive an unbelievable payday despite leaving Manchester United 20 months ago.
Woodward served as the club’s executive vice-chairman from May 2013 to February 2022 and became a very polarising figure during his spell in charge, having overseen a spend of over £1 billion on players during his time in charge at Old Trafford in return for little success.
The 52-year-old helped the Glazer family complete their takeover of United in 2005 and tendered his resignation in April 2021 after backing the disastrous European Super League. He eventually left the club in April 2022, with Richard Arnold taking on the top job.
)
17:51 - 16.01.2024
PREMIER LEAGUE Premier League boss reveals date set for Manchester City’s FFP rule break charges hearing
The Premier League has set a date for Manchester City's hearing after being charged with 115 accounts of breaching financial fair play rules
However, Woodward is still involved at Man United because he owns shares that could make him richer.
According to The Athletic, Woodward owns 551,486 Class A shares in United. That is extremely significant given that Sir Jim Ratcliffe is about to buy 25 percent of the club’s shares in exchange for £1.3billion.
After a protracted takeover process, which began in November 2022, the deal was announced on December 24 and will be officially signed off in the coming weeks.
The takeover means that Woodward and other private shareholders can sell 25 percent of their shares at $33 (Ksh. 5280) per share.
)
17:47 - 18.01.2024
FOOTBALL Eni Aluko insists she has ‘not fled’ England after emerging in Ivory Coast
Aluko insists she is in the Ivory Coast for the ongoing AFCON and did not "flee" England because of sexist attacks by Joey Barton.
For Woodward that equates to $4.5million (Ksh 720 million) – a tidy payday for the former executive and Glazer associate.
During his time as CEO, Woodward was the Premier League’s highest-earning CEO, having raked in £2,916,000 (Ksh 594.8 million) from the club in wages in his last season. He is not the only former United employee about to become richer when Ratcliffe’s deal goes through.
His successor Arnold, who stepped down in November ahead of INEOS’ arrival, owns 240,019 Class A shares, which will be worth a tidy £1.56m (Ksh. 249.6 million) if he sells up to Ratcliffe.
)
16:00 - 18.01.2024
FOOTBALL AFCON 2023: Algerian fan arrested & deported for calling host nation Ivory Coast 'poor'
An Algerian supporter was arrested and subsequently deported from the Ivory Coast after filming some of the country’s poor areas while using derogatory language to describe it
Meanwhile, United’s interim chief executive officer and general counsel Patrick Stewart and chief financial officer Cliff Baty are awaiting a completion bonus for the deal. That will be worth twice their annual salary.
Ratcliffe has struck a deal to buy 25 percent of the Class B shares held by the Glazer family and up to 25 percent of all Class A shares at $33(Ksh. 5280).
INEOS prevailed from an initial group of 170 interested parties, with 26 signing non-disclosure agreements and eight reaching the second round of the process before it boiled down to Ratcliffe vs Sheikh Jassim.
)
14:08 - 18.01.2024
Nigeria leading xG table, Morocco's stunning performance and other key stats from AFCON 2023 so far
AFCON 2023 has already defied sceptics with its overly attacking outlook, but which stats have stood out from the competition in Ivory Coast so far?
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)