Qatar’s Sheikh Jassim withdraws takeover bid for Man Utd

Qatar's Sheikh Jassim withdraws takeover bid for Man Utd

Qatari banker Sheikh Jassim bin Hamad Al Thani has withdrawn from the process of buying Manchester United according to reports.

Sheikh Jassim had bid £5bn for the club but further talks this week have broken down.

The Glazer family, who bought United for £790m in 2005, announced in November 2022 they were considering selling.

British businessman Sir Jim Ratcliffe’s Ineos Group was the other main bidder who is believed to be preparing to offer £1.5bn for 25% of the club, with the British businessman now seemingly in pole position to purchase a minority stake.

Under the proposed deal, the Glazers would remain in majority control, which would prove hugely unpopular with the club’s fans, who have launched further protests against the Americans this season.

The first offer from the Qatari banker is said to have been made in February, while the latest bid in excess of £5bn had allegedly not received a response.

Sheikh Jassim has reportedly never been interested in purchasing less than 100% of the club, and there has seemingly been a split in the Glazer camp when it comes to the best course of action.

There remains huge uncertainty surrounding the future of the club, but Ratcliffe has been left as the only serious candidate at this moment in time.

On the field, Erik ten Hag’s side have struggled this season, losing six of their 11 matches in all competitions, but they did record a 2-1 win over Brentford before the international break.

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