Published on 16.10.2023
Jim Ratcliffe is close to agreeing a deal to buy 25 per cent of Manchester United after Qatari businessman Sheikh Jassim bin Hamad al Thani withdrew from the bidding process.
Qatari businessman Jassim bin Hamad Al Thani has withdrawn his bid to buy Manchester United Football Club from its current owners, the Glazer family.
In the past few days, Jassim, the chairman of a Qatari bank and son of a former Qatari prime minister, held discussions with the American owners, but the two sides failed to reach an agreement on the valuation of the UK-based club.
Sheikh Jassim is understood to have raised his offer 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.
The difference between the parties is over the valuation – which still leaves open the possibility of Sheikh Jassim being enticed back into the protracted process – as protests against the Glazers continue.
Anger against the ownership has simmered and grown as United have started the season by losing four of their opening eight Premier League games to sit 10th in the table.
The other proposal is to buy around 25 per cent of the club by petrochemicals billionaire Sir Jim, who has said he has been a fan of the club since childhood, which now looks close to being agreed.
