Qatari billionaire Sheikh Jassim has officially exited the competition to acquire Manchester United from the Glazers family. This follows a prolonged bid war between Sheikh Jassim and British billionaire Sir Jim Ratcliffe, initiated after the Glazers announced the club’s sale last November. Recent reports indicate that the Glazers withdrew Manchester United from the market last month, recognizing that neither potential buyer was willing to meet their lofty £10 billion valuation.
Earlier this year, Sheikh Jassim’s £5 billion offer for a complete takeover of Manchester United had been declined, while Ratcliffe, the petrochemicals magnate, had contemplated purchasing a minority stake in the club. Despite the Glazers’ steadfast valuation, both Sheikh Jassim and Ratcliffe had maintained their interest.
However, Sheikh Jassim has now decided to bow out of the race. According to transfer expert Fabrizio Romano, “Sheikh Jassim had engaged in further discussions with the Glazers family regarding a 100% acquisition of Manchester United. Unfortunately, the Glazers have once again rejected Sheikh Jassim’s bid proposal. Consequently, Sheikh Jassim has communicated his readiness to withdraw from the process.”
“Sheikh Jassim had presented a fully cash bid, which would have cleared all existing debts and introduced no new debt, for complete ownership of the club. Although Sheikh Jassim’s team declined to comment on this development, citing confidentiality restrictions, they have confirmed their withdrawal from the process.”
