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Sir Jim Ratcliffe is closing in on a deal for a minority stake at Manchester United and although the Glazers will retain majority shares should that offer be accepted, it has the potential to be the beginning of the end for the American family.
A leading Manchester United fans' group called on Sunday for clarity on the future of the English giants amid speculation British billionaire Jim Ratcliffe is set to take a minority stake in the club. United's owners, the American Glazer family, announced nearly a year ago that they were exploring "strategic alternatives to enhance the club's growth", with a full sale one of the options. Qatari banker Sheikh Jassim Bin Hamad Al Thani withdrew his attempt to buy the 20-time English champions, a source close to the bid told AFP on Saturday.
It has taken 11 months, but finally there appears to be an end in sight to the Manchester United takeover saga that has divided a fanbase and polarised wider opinion.
Qatari banker Sheikh Jassim Bin Hamad Al Thani has withdrawn a bid to buy Manchester United, a source close to the deal told AFP on Saturday. United announced nearly a year ago that they were exploring "strategic alternatives to enhance the club's growth", with a full sale one of the options. Sheikh Jassim and British billionaire Jim Ratcliffe were the front-runners after several rounds of bidding earlier this year, but the process has stalled in recent months despite the anger of supporters towards current owners, the Glazer family.
It finally looks like Sir Jim Ratcliffe has beaten Sheikh Jassim in the Manchester United takeover race.
It was only a matter of time before something had to give and for most Manchester United fans, the coin landed on the wrong side.
With Sheikh Jassim bin Hamad Al-Thani’s bid out of the picture, Manchester United’s quickfire route to success becomes a lot narrower.
Sheikh Jassim bin Hamad al Thani tabled an overall bid worth more than double Manchester United's market value in an attempt to purchase the club from the Glazer family.