Manchester United news: Sheikh Jassim withdraws offer

After a lengthy bidding process, it has been revealed that Sheikh Jassim and his Qatari consortium have pulled out of the race for Manchester United.

The club was put up for sale in November 2022, which sparked a huge amount of excitement from the fanbase and drew the interest of several parties from around the world.

The two main parties that emerged were billionaire Sir Jim Ratcliffe and a Qatari businessman by the name of Sheikh Jassim bin Hamad Al Thani.

The two men went head to head in a bidding war for the club but the Glazers refused to dip below their asking price.

After several rounds of failed bids, Sheikh Jassim has decided to withdraw from the race after almost a year of trying.

According to Fabrizio Romano, the Qatari offered almost double the $3.5B market valuation of the club but was again rejected by the Glazer family.

🚨 EXCLUSIVE: Sheikh Jassim has presented fully cash bid, clearing all old debt, with zero new debt, for 100% of the Club.

Sheikh Jassim’s team decline to comment on this news citing “confidentiality restrictions”, but have confirmed they’ve withdrawn from the process. pic.twitter.com/UBUVDyDVAt

— Fabrizio Romano (@FabrizioRomano) October 14, 2023

🚨 Exclusive story on #MUFC takeover.

◉ Glazers informed of Sheikh Jassim decision — he has WITHDRAWN from the process.

◉ Final bid understood to be almost double than $3.5B market valuation.

◉ $1.5B extra investment was planned.

🇶🇦 All details: https://t.co/1bJDyEEq0g pic.twitter.com/fgxb41cyrr

— Fabrizio Romano (@FabrizioRomano) October 14, 2023