Qataris to pull out of bid to buy Man United if price not right

Sheikh Jassim bin Hamad Al-Thani will pull out of the bid to buy Manchester United if the right price cannot be agreed, reports Sky Sports.

The chairman of the Qatar Islamic Bank is offering £4.5 billion to buy the Old Trafford club.

However, the Glazers want £6bn to sell the Red Devils.

The Qataris are not ready to overpay for Man United and will not be held to ransom.

Sheikh Jassim is ready to buy only for a fair price. The other bidder in the race to buy Man United is Britain’s richest man Sir Jim Ratcliffe.

However, the INEOS CEO also tabled around £4.5bn for the club.

The process is set to move into its second stage, with both bidders preparing to meet with the Raine Group.

The Qataris and Ratcliffe will be given access to the club’s financial and legal data after the meeting.

It will influence their final and binding offers, but failure to meet the Glazers’ asking price could frustrate their efforts.

Joel Glazer and Avram Glazer remain reluctant to sell the Red Devils and could sell minority shares.

The Qataris do not want Man United at all costs.

Ratcliffe is also an astute businessman and did not become wealthy by overpaying for assets.

The Glazers may need to lower their demands for a takeover to be completed.

However, they know more financial success is on the horizon after recent improvements on the pitch.

Man United won the Carabao Cup last month and are challenging for the Europa League and FA Cup.

They could be playing in the Champions League next season, and the Glazers may become hesitant about selling their prized asset.