It has been reported that Qatari banker, Sheikh Jassim Bin Hamad Al Thani, is no longer interested in acquiring top-flight English Premier League club, Manchester United.
Sheikh Jassim and British billionaire Jim Ratcliffe were the leading contenders after multiple rounds of bidding earlier this year.
However, the process has recently come to a standstill, despite the dissatisfaction of supporters towards the current owners, the Glazer family. BBC revealed in a report on Saturday that Al Thani has withdrawn his interest in buying United.
The Glazers, who have owned the club since a leveraged takeover in 2005, have incurred significant debts amounting to £970 million. It is believed that they are holding out for a record-breaking fee of over £6 billion for the sale of the football club.
Sheikh Jassim’s bid aimed to gain full control of Manchester United and promised to alleviate the club’s debt. On the other hand, Ratcliffe is reportedly willing to purchase a smaller stake in order to resolve the ownership deadlock.
Under the Glazers’ leadership, the club’s performance on the field has also declined.
We understand that Manchester United has not won the Premier League since the retirement of former manager, Alex Ferguson, in 2013, and their last Champions League victory was in 2008.
Currently, Manchester United are positioned 10th in the Premier League and have suffered defeats in their first two group stage matches of the Champions League, a first in the club’s history.
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