Qatar’s Sheikh Jassim bin Hamad Al Thani has withdrawn from the process to buy Manchester United, as per Fabrizio Romano and the BBC.
It’s a new chapter in the possible sale of Manchester United. This phase is negative for those who wanted to see the Glazers away from Old Trafford.
Sheikh Jassim had offered 5 billion pounds for the club, but this week’s talks failed. The Glazer family, who bought United for 750 million pound in 2005, said that they were considering selling… but they haven’t.
This means that, for now, the club will remain in the hands of American owners despite protests from Manchester United fans.
Glazers refuse to sell
United were put up for sale in late 2022, with Sheikh Jassim and INEOS competing for the ownership, INEOS being backed by Sir Jim Ratcliffe although neither matched the 6bn dollars asking price for the club.
Recent news surrounding Ratcliffe suggested that he is looking for a minority stake, approximately 25%, which would see the Glazers retain majority control of the historic club.
The information came from Sky News and occurred at the same time that it has been reported the club’s value fell by 500m pounds (607m dollars) on the New York Stock Exchange.
Manchester United currently sit 10th in the Premier League table, eight points behind the table-topping Tottenham Hotspur despite playing just eight games.
They have lost 50% of their league games this season and have not won England’s top-flight since 2013, whilst their main rivals Manchester City and Liverpool have managed to do so.