The Glazer family is on track to earn more than £1.3 billion once the takeover deal by Sir Ratcliffe is completed, according to The Telegraph. The deal is contingent upon approval from the Premier League and the club's Class A shareholders. If approved, the Glazer family will earn approximately £715 million from selling their Class B shares to Sir Ratcliffe in cash.

The Glazer family has already earned around £465 million by selling their Class A shares in Manchester United, and they have received approximately £150 million in dividend payments. In total, during their 18-and-a-half-year reign at Manchester United, the Glazer family has made over £1.3 billion personally. This news is likely to further infuriate Manchester United fans who have long protested against the Glazer family's ownership.

The six Glazer brothers collectively own over 110 million Class B shares in Manchester United. By selling 25% of these shares at the agreed price of $33 per share, the family will receive approximately $909 million (£715 million). According to a 241-page regulatory filing submitted to the New York Stock Exchange on Tuesday night, no dividends will be paid for at least three years as part of the deal between Sir Ratcliffe and the Glazer family.

In 2005, the Glazer family acquired Manchester United for approximately £790 million. Since then, the club has paid around £1 billion to repay debt, interest, and management fees associated with the leveraged buyout.

Class B shares have 10 times the voting rights of Class A shares and have always been solely owned by the Glazer family. They usually convert to Class A shares when the family sells. However, the deal with Sir Ratcliffe involves legal changes that allow the unconverted Class B shares to be transferred to him, effectively reducing the Glazer family's total equity stake to around 49%.

In addition to purchasing the Glazer family's shares, Sir Ratcliffe has bought up to 25% of the Class A shares at a price of $33 per share through his overseas investment company Trawlers Ltd. This is to minimize the risk of legal action from other minority shareholders.

The deal values Manchester United's equity at approximately $5.4 billion, making the overall enterprise value of the club reach $6.3 billion, nearly £5 billion. Sir Ratcliffe has also committed to investing an additional $300 million (£237 million) for the needs of Old Trafford and infrastructure.If the Glazer family decides to sell more Class B shares in the future, Sir Ratcliffe will have a first refusal right within the next 12 months. Similarly, the deal includes a "drag-along" provision, which means that if the Glazer family decides to sell their shares in full after 18 months, Sir Ratcliffe will be compelled to sell his shares, provided he can accept a cash offer of $33 per share from the Glazer family.The drag-along provision is a provision or clause in the agreement that allows majority shareholders to force minority shareholders to join in the sale of a company.