In a surprising turn of events, Qatar’s Sheikh Jassim bin Hamad Al Thani has officially withdrawn his bid to acquire the legendary football club, Manchester United, as revealed by a confidential source on Saturday. This revelation comes after months of intense speculation surrounding the potential takeover.
The source, who insisted on remaining anonymous due to the secrecy surrounding the process, disclosed that Sheikh Jassim, along with British billionaire Jim Ratcliffe, had been one of the two prominent bidders publicly expressing their interest in purchasing the Premier League giants from their current owners, the Glazer family.
This development comes nearly a year after the club was put up for sale, marking a significant twist in the ongoing takeover saga. The person with inside knowledge stated that Sheikh Jassim had informed the Glazer family of his decision to withdraw his offer. The reasoning behind this sudden change of heart remains unclear.
Notably, Sheikh Jassim’s final offer was reported to be nearly double the current market valuation of Manchester United, which stands at an impressive $3.2 billion. Despite his substantial bid, he has chosen to withdraw from the race to acquire the 20-time English league champions.
While Sheikh Jassim has exited the picture, Jim Ratcliffe’s bid remains intact. However, it has been widely rumored that Ratcliffe may be open to accepting a minority stake in the club, should his takeover ultimately come to fruition.
The future of Manchester United, one of the most iconic football clubs in the world, continues to be a topic of great interest and speculation among football enthusiasts and investors alike, as the sale process unfolds.