The competition to purchase Manchester United from the Glazer family has been called off by Qatari billionaire Sheikh Jassim.

When the Glazers decided to sell United last November, the Qatari businessman and British billionaire Sir Jim Ratcliffe were in a competition to acquire the team. However, according to recent reports, the Glazers pulled United off the market last month after realizing that neither interested party would pay their £10 billion asking price.

 

 

Earlier this year, Sheikh Jassim’s $5 billion bid for a full purchase of United was turned down, while petrochemicals billionaire Ratcliffe pondered purchasing a minority holding.

Despite the Glazers’ high valuation, Sheikh Jassim and Ratcliffe had both maintained their interest. However, the Qatari billionaire has since withdrawn from the competition.

‘Sheikh Jassim has had further discussions with Glazers family to buy 100 per cent of Manchester United,’ transfer expert Fabrizio Romano said on his YouTube channel on Saturday, October 14.

 

‘Sheikh Jassim’s bid proposition has been rejected again by Glazers family. As a result, Sheikh Jassim informed Glazers that he’s ready to withdraw from the process.

 

‘Sheikh Jassim has presented fully cash bid, clearing all old debt, with zero new debt, for 100% of the club.

 

‘Sheikh Jassim’s team decline to comment on this news citing ‘confidentiality restrictions’, but have confirmed they’ve withdrawn from the process.’