Manchester United sale: Sheikh Jassim bin Hamad Al Thani withdraws from Red Devils bid, per reports
CBSN
Qatari banker leaves process to acquire Red Devils
Sheikh Jassim bin Hamad Al Thani has withdrawn his offer to buy Manchester United from the Glazer family, according to multiple reports. The Qatari banker had reportedly offered just over $6 billion for the Premier League giants but discussions this week have reached stalemate. The Glazers acquired United for around $958 million back in 2005 and confirmed back in November of 2022 that they were considering a sale.
Almost 12 full months later, Sheikh Jassim and British businessman Sir Jim Ratcliffe's INEOS Group were the two remaining bidders. Financial figures released back in March showed that United's combined gross debt, bank borrowings and outstanding transfer fees with additional payments totaled around $1.18 billion.
Ratcliffe is reportedly considering a minority stake to finally make a breakthrough in terms of the club's ownership. INEOS and Sheikh Jassim were the only two firm offers after the Glazer family announcement with both proposing around $6 billion.
