Sheikh Jassim is understood to have raised his offer for Man Utd in June but it was not satisfactory for the Glazers despite being far more than the club’s $3.3bn valuation on the New York Stock Exchange; Sir Jim Ratcliffe now close to agreeing a deal to buy 25 per cent of the club
Qatari banking tycoon Sheikh Jassim bin Hamad al-Thani has withdrawn his £5 billion bid to buy Manchester United - with Sir Jim Ratcliffe set to swoop in for 25 per cent of the club.
United refused to comment on reports that Sheikh Jassim has finally ended negotiations with the Glazer family after the latest round of talks failed to find an agreement to move forward.
But he has informed Raine Group, the New York investment banking firm tasked with finding new investors, that he has terminated his interest.
Ratcliffe is now the only bidder left at the negotiating table - although the deal being proposed by Britain’s richest man would see the despised American owners remain in control.
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About Charles Igbinidu
Charles Igbinidu is a Public Relations practitioner in Lagos, Nigeria
ionigeria.com Nigerian Newspaper
