October 14, (THEWILL) – Qatari banker, Sheikh Jassim Bin Hamad Al Thani, has pulled out of a bid to purchase Manchester United.
As THEWILL reported, the Old Trafford club announced nearly a year ago that the board was looking at “strategic alternatives to enhance the club’s growth”, with a full sale as one of the options THEWILL were willing to consider.
Sheikh Jassim and British billionaire, Jim Ratcliffe, were the front runners after several rounds of bidding earlier this year, but the process has stalled in recent months despite the anger of supporters towards the current owners, the Glazer family.
The Americans have owned the English giants since a leveraged takeover in 2005 for £790 million ($961 million) that saddled the club with huge debts. However, the Glazers are believed to be holding out for a world record fee for a football club in excess of £6 billion.
About the Author
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
