Sheikh Jassim Bin Hamad Al Thani, a Qatari banker, has officially withdrawn his bid to purchase Manchester United, according to an insider familiar with the deal.
Nearly a year ago, Manchester United had publicly announced their exploration of “strategic alternatives to enhance the club’s growth,” including the possibility of a complete sale.
Sheikh Jassim and British billionaire Jim Ratcliffe had emerged as frontrunners following several rounds of bidding earlier in the year.
However, in recent months, the process has encountered a standstill, despite growing discontent among the club’s supporters regarding its current owners, the Glazer family.
The Daily Mail has reported that Jim Ratcliffe is now poised to secure a 25 percent stake in the club, with an estimated investment of around £1.5 billion ($1.7 billion).
Since the Glazers’ leveraged takeover of the English giants in 2005 for £790 million, the club has been saddled with significant debts. As of March, Manchester United’s debt had reached £970 million.
Sheikh Jassim’s proposal included acquiring full control of the club and a commitment to clearing its outstanding borrowings. Despite an improved bid believed to be in the vicinity of £5 billion, further discussions this week ended without resolution.
In contrast, Ratcliffe is reportedly willing to purchase a smaller stake to break the impasse regarding the Glazers’ £6 billion asking price.
As the founder of the petrochemicals behemoth Ineos, Ratcliffe is an ardent supporter of Manchester United and already possesses a portfolio of sports investments. Ineos owns French club Nice, Swiss side Lausanne-Sport, the prominent cycling team Ineos Grenadiers, and is a major sponsor of the Mercedes Formula One team.
On the field, Manchester United’s fortunes have waned during the Glazers’ tenure. The club has not secured a Premier League title since the retirement of former manager Sir Alex Ferguson in 2013 and last claimed the UEFA Champions League in 2008.
Currently, they hold 10th place in the Premier League and have lost their first two Champions League group stage matches, marking a historic first in the club’s history.
Fans have also expressed frustration over the lack of investment in the club’s infrastructure over the past two decades.
Although Old Trafford remains England’s largest club football stadium, it requires substantial redevelopment to match the facilities provided by rival clubs.
Moreover, Manchester City’s Etihad Stadium was chosen over Old Trafford for the UK and Ireland’s successful bid to host Euro 2028.
Sheikh Jassim’s deal had also pledged $1.7 billion to finance new stadium and training center plans, as well as investments in the transfer market for players.
However, the bid by the son of a former Qatari prime minister raised concerns over the potential expansion of state influence in the Premier League. In recent years, reigning Premier League champions Manchester City’s fortunes have undergone a significant transformation after a takeover by Sheikh Mansour, a member of Abu Dhabi’s ruling family, in 2008.
Additionally, in 2021, the Saudi sovereign wealth fund acquired a controlling stake in Newcastle.
Amnesty International has called upon the Premier League to enhance ownership regulations to ensure they are not exploited for “sportswashing” activities.
