Manchester United takeover latest as bidder pulls out and blames Glazers

After it was announced that there would be a third round of bids for Manchester United, one bidder has confirmed that they have pulled out of the race.

Finnish businessman Thomas Zilliacus announced on Twitter that he would no longer be pursuing a deal to buy the club after the Glazers opted for a third round of bids. Zilliacus' bid centred around the supporters owning half of the Reds through shares.

Each share would allow a fan to vote on matters concerning the club via an app. His withdrawal means that Sir Jim Ratcliffe and Sheikh Jassim bin Hamad al-Thani are the only confirmed candidates left in the race for United.

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Thomas Zilliacus has seemingly withdrawn from the Manchester United takeover process, labelling the Glazers' decision to open a third round of bidding a 'farce'.

Zilliacus entered the picture during the second phase with a bid which would allow United fans to own 50 per cent of the club via a small fee. The Finnish businessman had also mooted the idea of combining with the two major parties, Sir Jim Ratcliffe and Sheikh Jassim bin Hamad al-Thani.

But he has now backed out of the process after the Raine Group, acting on behalf of the Glazer family, opened a third round of bidding on Tuesday, with a deadline of April 28. The decision has been met with widespread criticism, Zilliacus himself pleading for a swift resolution to the process.

Read what Zilliacus had to say here.

In a statement on their website, Manchester United Supporters Trust wrote: "When it was announced in November that the Glazers were undertaking a “strategic review” and inviting offers to buy the Club, MUST welcomed the news and went on to urge the majority owners to move ahead with the