Sheikh Jassim bin Hamal Al Thani has officially withdrawn his bid to buy Manchester United in another intriguing chapter in the tumultuous tale of the Premier League giants’ ownership saga.
According to Fabrizio Romano, the Qatari businessman and royal family member tabled a proposal that nearly doubled the club’s estimated market valuation of $3.5 billion.
The proposal was a full cash bid, which included clearing the club’s debt.
However, the Glazer family reportedly refused to accept the offer despite fans of the club pushing for their exit.
The sale of Man United has been the subject of prolonged negotiations since the Glazers announced their intention to sell the club in November last year.
Sheikh Jassim submitted multiple bids in an attempt to buy the Red Devils from the American owners.
British entrepreneur Sir Jim Ratcliffe had also thrown his hat into the ring, presenting his own offers to acquire the club.
Speculation regarding the Glazers’ true intentions for the sale has intensified over recent months.
Some insiders have cast doubt on whether the American family ever genuinely intended to relinquish control, leading to questions about whether the club was truly on the market in the first place.
Meanwhile, the Glazers have considered alternative options for divesting their stake in United.
Reports suggest they were exploring the possibility of selling a portion of their shares. This strategy could be gaining traction.
According to a recent report from Bloomberg, Ratcliffe’s offer has garnered greater interest from the Glazers.
The British businessman wants to purchase a 25% stake in the club and is reportedly making an assertive push to finalise the deal soon.
Following Sheikh Jassim’s withdrawal from the United race, he may now direct his attention toward Serie A, where he is reportedly eyeing a potential acquisition of Inter Milan.
