How Qatar’s Sheikh Jassim Withdraws From Process to Buy Manchester United

Qatari banker Sheikh Jassim Bin Hamad Al Thani has withdrawn his bid to buy Manchester United.

Sheikh Jassim placed a bid of £5bn for the club but further talks broke down this week. Sheikh Jassim’s bid was for full control of the club and a promise to clear the club’s borrowings.

The Glazer family, owners of United, announced a year ago that they were exploring selling. Sheikh Jassim and British billionaire Jim Ratcliffe were the front-runners on the bid for the club.

Reports by BBC, says Ratcliffe’s Ineos Group is hoping to conclude a deal for a minority stake in the club, thought to be 25%. However, Sheikh Jassim wanted to buy the club outright and launched his fifth and final bid in June in an effort to close the deal.

The United’s fans has demonstrated anger towards the Glazer family as the club started the season by losing four of their opening eight Premier League games to sit 10th in the table. They have also lost both Champion’s League group games in the 2023-24 campaign.

Reports says Sheikh Jassim’s offer also promised $1.7 billion to finance plans for a new stadium and training centre, as well as investment in the transfer market on players.

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