After the Glazer family rejected their second offer at the end of June, Sheikh Jassim opted to withdraw from the battle to own Manchester United, allowing British millionaire Jim Ratcliffe to buy back 25% of the club’s shares.

In his most recent bid, the Qatari billionaire reiterated his ambition to repurchase complete ownership of Manchester United. As a result, Manchester United is worth more than 6.06 billion USD (equal to 5 billion pounds) – than double the 3.3 billion USD based on market capitalization on the New York Stock Exchange, where the club is traded. stock listing.

However, according to Sky Sports, the Glazer family, who have owned Manchester United since 2005, is still opposed to the above plan. The American billionaire family has valued the “Red Devils” at 7.3 billion USD since deciding to sell the club and is adamant about not giving in. As a result, Sheikh Jassim abandoned his plan and told the English club on October 14.

Sheikh Jassim is a member of Qatar’s Royal Family, the son of Qatar’s former Prime Minister, and the Chairman of Qatar Islamic Bank. According to Forbes, he owns 1.2 billion USD in assets and is the representative of the Qatar Public Investment Fund (QIA), an institution with around 450 billion USD in assets.

Since announcing his intention to buy Manchester United in February 2023, the Qatari billionaire has made five proposals, with prices gradually climbing from 5.5 billion to 6.06 billion USD. He is also willing to pay off Manchester United’s debt. Man United was purchased by the Glazer family for $1.5 billion in 2005. They borrowed roughly a billion dollars during the purchasing process and then transferred the loan to the club. Manchester United had to pay this debt to the American owners for 20 years.

Because the sale of all Man United shares fell through, the Glazer family resorted to transferring a minority part in the club.As a result, there is presently only one applicant, petrochemical billionaire Jim Ratcliffe, who wants to buy back 25% of Man Utd shares.

According to Sky Sports, Sheikh Jassim’s decision to withdraw disappoints many Manchester United players, particularly coach Erik ten Hag and the first team managers. They expect the Qatari billionaire to take over the club, pay off all debts, and infuse more money into Man United to restore facilities, especially the Carrington training ground, and reinforce the force to compete for big titles.

Man United finished third last season and has not won the Premier League since 2013 when coach Sir Alex Ferguson was still in charge. They have also failed to win the Champions League after being crowned in 2008. This season, the club led by coach Ten Hag is ranked 10th in the Premier League, with four victories and four losses through eight matches.