Sheik Jassim has exited the bidding race to take over Man Utd after the Glazer family rejected their latest offer.
In November 2022, the Glazer family announced their intention to sell Manchester United. They hoped that this announcement was going to bring the investors, and it brought some.
With the fans eager to see them leave they backed the idea of them selling. They claim that the bad times the club has been undergoing since 2005 are caused by their poor management. Another significant factor that is playing here is the almost $1 bn debt the club currently sits on.
Man Utd quickly received offers from some investors, between them Sheik Jassim, former heir of Qatar. Right from the beginning many thought he was the clear favorite thanks to the huge amounts he offered.
After months of negotiations and different bids, it’s reported that Jassim made his last offer before withdrawing his bid. We’ve been informed that he offered more than $6 bn for the 100% of the Man Utd shares. On top of that, he planned to clear the club’s debt and invest around $1.4 bn in the stadium, players, and more.
There hasn’t been any official statement from either of the parties announcing the end of the negotiation at this time.
The club that currently sits 10th in the Premier League, Man Utd, has other bidders one of them being Ratcliff who are looking into buying 25% of the shares.
Is the Glazer family going to find a better bidder than Sheik Jassim?