Manchester United takeover: Qatari billionaire Sheikh Jassim withdraws bid

Qatari billionaire Sheikh Jassim bin Al Thani has officially withdrawn from the race to purchase Manchester United.

According to reports from talkSPORT, sources close to Sheikh Jassim have confirmed that his world-record bid to acquire the club has been abandoned due to an inability to reach an agreement with the Glazer family, owners of the club.

Recall Gistreel had earlier reported that David Beckham had been considered as a potential ambassador for the club in the event of Sheikh Jassim’s successful bid, although, Beckham has downplayed the rumours in an interview with CNBC.

With Sheikh Jassim leaving the race, British billionaire Sir Jim Ratcliffe, a lifelong Manchester United fan, is poised, as he proceed with his bid to purchase a minority stake in the club.

Ratcliffe aims to acquire just 25% of the Glazer family’s shares, with the hope of eventually becoming the majority owner.

However, it’s worth noting that Joel and Avram Glazer, the current owners of the club, have for long been reluctant to entertain the idea of a complete sale of the club.