Sheikh Jassim withdraws bid to buy Man Utd

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Sheikh Jassim withdraws bid to buy Man Utd
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Further talks broke down this week despite an improved offer of around £5 billion.

Qatari banker Sheikh Jassim Bin Hamad Al Thani’s bid was for full control of Manchester United and promised to clear the club’s borrowings.

Sheikh Jassim and British billionaire Jim Ratcliffe were the frontrunners after several rounds of bidding earlier this year, but the process has stalled in recent months despite the anger of supporters towards current owners, the Glazer family. Founder of petrochemicals giant Ineos, Ratcliffe is a boyhood United fan and already has a portfolio of sports investments.

Fans have also been left frustrated at a lack of investment in United’s infrastructure over the past two decades.

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