Sheikh Jassim Withdraws Bid to Buy Manchester United

Qatari businessman Sheikh Jassim and his team of representatives have withdrawn their bid to buy Manchester United after ten months of negotiations with the Raine Group, who had been appointed to sell the club. Jassim was offering around £5.2bn for 100% of United, as well as promising a further £1.5bn in investment.

The withdrawal of the bid comes after Sir Jim Ratcliffe is set to take a 25% stake of United, for a figure of around £1.4bn. Though Ratcliffe’s bid values United at more than Jassim does, it brings new challenges for the club as Ratcliffe and the Glazers will have to work together.

Jassim’s Offer

Jassim’s offer included wiping out the club’s debt and funding either a restructure of Old Trafford or a completely new stadium. His team feel they would have been ‘dream’ owners and feel the Glazers have squandered a once-in-a-generation chance to close the gap on Manchester City.

Ratcliffe’s Offer

Ratcliffe’s offer, by contrast, is set to take a 25% stake of United, for a figure of around £1.4bn. There are also question marks over how Ratcliffe will fund his minority stake, which in itself has parallels with the Glazer’s 2005 takeover.

Implications for Manchester United

The implications of Ratcliffe’s offer are yet to be seen, but it is clear that the club will have to work together with both Ratcliffe and the Glazers in order to move forward. It remains to be seen how this will affect the club’s future, but it is clear that there are many challenges ahead.

Conclusion

Sheikh Jassim’s withdrawal of his bid to buy Manchester United has left the club with a new set of challenges. Ratcliffe’s offer may value the club higher than Jassim’s, but it brings with it a new set of questions and issues that must be addressed. It is clear that the club will have to work together with both Ratcliffe and the Glazers in order to move forward.