The latest bid of Sheikh Jassim Bin Hamad Al Thani to buy Manchester United has been rejected and the Qatari billionaire has subsequently withdrawn from the bidding race to buy the club.
Reports indicate that Sheikh Jassim withdrew his bid after growing increasingly infuriated with the owners of the Red Devils, the Glazer family.
The Qatari billionaire made a huge bid in the last few weeks but the last bid didn’t also meet the amount demanded by the Glazers.
Sheikh Jassim’s camp apparently tabled a bid of about £5.5 billion but still fell below the £6 billion price that the Glazers are reportedly demanding.
Recent reports revealed that the 64-year-old had held talks with the owners of Manchester United over the last few days, with the view of finalizing the sale process.
However, after his last bid fell apart, Sheikh Jassim Bin Hamad Al Thani decided to halt his nine-month long pursuit of the ownership of the Red Devils.
Sheikh Jassim withdraws his Manchester United bid
The decision of Sheikh Jassim Bin Hamad Al Thani to withdraw his offer for Manchester United leaves British billionaire Sir Jim Ratcliffe in pole position to acquire the club.
Jim Ratcliffe is bidding for a quarter of the club, and his bid seemingly meets the Glazers’ valuation.
A large chunk of Manchester United supporters will prefer that Sheikh Jassim takes over the ownership of the club ahead of Sir Jim Ratcliffe.
These recent development has been met with stiff resentment from fans, who are angry with the Glazers’ handling of the sale process.
The Manchester-based club have had a torturous start to the 2023/24 season, and some fans feel the departure of the Glazers could occasion a upturn in fortunes for the club.
Manchester United sit 10th on the Premier League table, 12 points from 8 matches, having won 4 matches and drawn 4.
The Red Devils return to action on Saturday, October 21, 2023, as they visit Bramall Lane to battle Sheffield United.
Sheikh Jassim “dream owner” of Manchester United?
According to Italian journalist Fabrizio Romano, Sheikh Jassim feels he would have been a “dream owner” for Manchester United, as he had impressive innovations to bring onboard.
The Qatari billionaire’s bid would have aided the Red Devils in clearing the entirety of their debt.
Meanwhile, Jim Ratcliffe’s minority bid would reportedly give him sporting control of the club, and his bid has been accepted subject to ratification by the board of directors.
His bid would obviously not lead to the clearing of Manchester United’s entire debt, but it apparently reduces the influence of the Glazers on the English club.
It would be interesting to see the next line of events regarding the sale of Manchester United and if the Glazers influence on the club would reduce in the coming years.
