Sheikh Jassim bin Hamad Al Thani pulls out of race to complete Manchester United takeover - reports

Qatari businessman Sheikh Jassim bin Hamad Al Thani has withdrawn from his attempt to buy Manchester United, according to reports.

The BBC reports that Sheikh Jassim had offered £5 billion for the club but that negotiations have now come to an end.

The Glazer family had announced that they would be open to selling all or part of the club and, after a lengthy process, Sheikh Jassim and British businessman Sir Jim Ratcliffe were the two main bidders.

The process started in November 2022, but after almost a year, reports say only Ratcliffe remains in the running.

Other reports claim that he is still considering taking a minority stake, which would see the Glazer family keep all or some control of the club’s decision-making.

Sheikh Jassim’s bid was believed to be an offer which would have cleared all the debt held by the club, which stands at almost £1bn in combined liabilities.

More than £1.4bn would have been provided for improving the club’s infrastructure, the Old Trafford stadium, and transfer spending.

The Glazer family bought Manchester United in a controversial leveraged buyout in 2005, and while they initially enjoyed success under Sir Alex Ferguson, since his retirement in 2013 they have not won either the Premier League or UEFA Champions League trophies, and have gone through a succession of managers without landing on any stability.

Current manager Erik ten Hag enjoyed a promising first season, taking the club into the Champions League once more, but they have lost their opening two group games, and currently sit 10th in the Premier League table.

United fans have intermittently protested the Glazers since their arrival, but demonstrations have intensified over the last year as the club have struggled compared to city rivals, Manchester City, as well as Arsenal and Liverpool.

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