Qatari banker Sheikh Jassim bin Hamad Al Thani has withdrawn from the endless process to buy Manchester United, according to several English media reports, after talks held this week failed again without an agreement was reached.
The Glazer family, who bought United for £790m in 2005, announced in November 2022 that he was considering selling the club. The decision sparked considerable interest, but it resulted in two offers, both worth £5 billion (€5.7 billion), Sheikh Jassim and the Ineos group, owned by British businessman Sir Jim Ratcliffe.
While Sheikh Jassim has always maintained that he is only interested in buying 100% of United, Ratcliffe aims to get a majority stake, though It emerged earlier this month that he was considering an offer to buy a minority stake in the club in an effort to break the impasse over the ownership situation.
Sheikh Jassim’s offer is all cash and will include payment of the club’s old debts. More than £1.4 billion would also have been allocated in finance planning a new stadium, new facilities for training centres, player signings and also for community regeneration projects.
An endless process
A sector of United fans held demonstrations against the Glazer family inside and outside Old Trafford waiting for the club to finally change hands, but so far the lengthy process doesn’t seem to have any sign of fruition.
In recent months, many conflicting rumors have appeared, including that the entire process has been staged, a point that sources from both candidates have insisted was not the case until now, when the Qatari banker who Sheikh Jassim bin Hamad Al Thani withdrew his offer.
Source: La Verdad
I’m Rose Herman and I work as an author for Today Times Live. My expertise lies in writing about sports, a passion of mine that has been with me since childhood. As part of my job, I provide comprehensive coverage on everything from football to tennis to golf.
