Sheikh Jassim withdraws from Manchester United takeover race

Sheikh Jassim bin Hamad Al-Thani has withdrawn from the Manchester United takeover race. The Qatari had been rivalling INEOS billionaire Sir Jim Ratcliffe for a buy-out but has decided to axe his 100 per cent bid.

Al-Thani had undergone several rounds of bidding staged by the Raine Group, with his final revised offer standing at £5billion - around double the market value of the club. He is said to have withdrawn his proposal due to being disillusioned by the valuation placed on United by the Glazers.

MEN Sport understands that Avram and Joel Glazer are reluctant to sell and have not responded to either Sheikh Al-Thani or Ratcliffe regarding next steps. Ratcliffe has been considering pivoting to a small stake investment of £1.5billion for 25 per cent and it's also being reported tonight that this offer is set to be ratified by United's board next week.

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READ MORE: Why Sheikh Jassim has withdrawn from takeover race

Al-Thani had promised to clear the debts amassed by the Glazers through his Nine-Two Foundation, pledging to restore the club back to “its former glories both on and off the pitch.”

Al-Thani, a lifelong United supporter, had indicated towards prioritising a sustainable future for both the men’s and women’s sides with a further focus on youth development. His bid had seemed to be the most popular on the table among United supporters.

Meanwhile, Ratcliffe has consistently underlined his hopes of a United purchase. Speaking last month, the 70-year-old - also a United fan - said he was eager to not walk away from the process empty handed.

He told INEOS TV: “The Manchester United bid would have been unthinkable two or three years ago if we hadn't had some of the