It is no news Shiekh Jassim is off the race to take over Manchester United. The Qatari investor decided to pull the plug at the tail end of of the bidding race.
There are a few possible reasons why Sheikh Jassim withdrew from the Manchester United takeover race:
The Glazers were not willing to sell a 100% stake in the club. Sheikh Jassim had made a bid to buy the entire club, but the Glazers were only interested in selling a minority stake. This was likely a major factor in Sheikh Jassim’s decision to withdraw.
The Glazers’ valuation of the club was too high. Sheikh Jassim’s bid was reportedly in the region of £5bn, but the Glazers are said to be valuing the club at closer to £6bn. This difference in valuation was likely another major factor in Sheikh Jassim’s decision to withdraw.
Sheikh Jassim did not want to get involved in a protracted bidding process. The takeover process had already been dragging on for several months, and it is possible that Sheikh Jassim did not want to get involved in a further bidding war with other interested parties.
It is also worth noting that Sheikh Jassim had only made a preliminary bid for the club. He had not yet conducted any due diligence, and it is possible that he uncovered some issues that made him reconsider his bid.
Whatever the reason for Sheikh Jassim’s withdrawal, it is a major blow to the Manchester United fans who were hoping for a change of ownership. The Glazers have been unpopular with the fans for many years, and there is a growing sense of frustration that the club is not being run in the best interests of the supporters.
It remains to be seen whether any other interested parties will come forward to make a bid for the club but Sir Jim Ratcliffe is now a frontrunner to seal the deal.
