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Sheikh Jassim pulls out of Man Utd takeover after latest bid rejected by Glazers
Manchester United takeover frontrunner Sheikh Jassim has told the Glazer family he's pulling out from buying the club after they knocked him back again, according to reports
Sheikh Jassim has reportedly withdrawn from the Manchester United takeover battle after his latest bid was rejected.
The Qatari billionaire beat out competition from Britain's richest man Sir Jim Ratcliffe to become the frontrunner to buy the Red Devils from the Glazer family. The process looked to be moving forward in recent weeks.
But transfer guru Fabrizio Romano has now claimed he's out of the running after the Americans knocked him back yet again. The Sheikh is said to have presented a full cash bid just shy of $7billion (£5.77bn) for 100% of the club, which would have completely cleared United's debts.
The parties held further discussions, with Jassim also planning $1.5bn (£1.24bn) extra investment. But they couldn't reach an agreement on his proposal, and he's now believed to have walked away and ended his interest.
His team declined to comment due to “confidentiality restrictions”, but they confirmed to Romano that they’ve withdrawn from the process as a result of the failed negotiations - almost a year on from United being placed on the market.
The news will come as a major blow to a large portion of the United fanbase who were hoping the Sheikh was the one to bring an end to the Glazers' 18-year reign at Old Trafford.
Ratcliffe, founder of chemicals company Ineos, now has a clear path to purchase a minority stake which would see the current owners remain in position at the helm.
Protests against the Glazers have grown in regularity in recent years as United have struggled to reach the heights they enjoyed during Sir Alex Ferguson's legendary tenure in the dugout.
They won their first trophy in six years with victory over Newcastle in the League Cup final last season. But Erik ten Hag's side have endured a troubled start to the new campaign, finding themselves 10th in the Premier League table after eight games played to once again raise discontent amongst the fanbase.
Daily Star Sunday
Manchester United takeover frontrunner Sheikh Jassim has told the Glazer family he's pulling out from buying the club after they knocked him back again, according to reports
Sheikh Jassim has reportedly withdrawn from the Manchester United takeover battle after his latest bid was rejected.
The Qatari billionaire beat out competition from Britain's richest man Sir Jim Ratcliffe to become the frontrunner to buy the Red Devils from the Glazer family. The process looked to be moving forward in recent weeks.
But transfer guru Fabrizio Romano has now claimed he's out of the running after the Americans knocked him back yet again. The Sheikh is said to have presented a full cash bid just shy of $7billion (£5.77bn) for 100% of the club, which would have completely cleared United's debts.
The parties held further discussions, with Jassim also planning $1.5bn (£1.24bn) extra investment. But they couldn't reach an agreement on his proposal, and he's now believed to have walked away and ended his interest.
His team declined to comment due to “confidentiality restrictions”, but they confirmed to Romano that they’ve withdrawn from the process as a result of the failed negotiations - almost a year on from United being placed on the market.
The news will come as a major blow to a large portion of the United fanbase who were hoping the Sheikh was the one to bring an end to the Glazers' 18-year reign at Old Trafford.
Ratcliffe, founder of chemicals company Ineos, now has a clear path to purchase a minority stake which would see the current owners remain in position at the helm.
Protests against the Glazers have grown in regularity in recent years as United have struggled to reach the heights they enjoyed during Sir Alex Ferguson's legendary tenure in the dugout.
They won their first trophy in six years with victory over Newcastle in the League Cup final last season. But Erik ten Hag's side have endured a troubled start to the new campaign, finding themselves 10th in the Premier League table after eight games played to once again raise discontent amongst the fanbase.
Daily Star Sunday