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Sheikh Jassim will not make a last-ditch attempt to scupper Sir Jim Ratcliffe’s bid to buy Manchester United, it has been claimed. Some United fans had hoped that the Qatari royal would make another last-minute offer despite his team’s insistence that their interest has been withdrawn.
The Middle East-based businessman pulled out of the lengthy takeover saga over the weekend after having another proposal rejected by the Glazer family. It is claimed that Sheikh Jassim never came close to the unpopular current owners’ eye-watering £6billion valuation of the Premier League club.
Ratcliffe, the petrochemicals giant who is Britain’s richest man, has since become the frontrunner to buy a stake in United. Wide-ranging reports suggest that the final details on a 25 per cent purchase are being thrashed out before a board vote later this week.
The 70-year-old is expected to spend £1.4billion to buy a quarter of the club. He will apparently take control of the club’s sporting arm while the Glazers continue to head up the commercial side of the 20-times English champions.
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However, supporters who wanted a full takeover have been left infuriated over the Glazers’ likely continued presence at Old Trafford. Many fans had been left hoping that Sheikh Jassim might emerge from the wilderness to make a final offer and topple Ratcliffe’s bid.
But those individuals are apparently set to be disappointed. According to the Daily Mail, Sheikh Jassim’s decision to withdraw his interest in United is final. There will not be another surprise offer from the Qataris.
Sheikh Jassim is claimed to have held discussions over the last few days but after having his latest bid for 100 per cent of the club rejected, he has withdrawn his nine-month-long efforts to buy United. Sources apparently say there is ‘zero chance’ of a shock return to the table.
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The path is now clear for Ratcliffe to secure a quarter of the shares in United. It is widely reported that this is the first phase in a full purchase of the Red Devils.
Ratcliffe, who also owns French outfit Nice, has made his pitch for the club via his petrochemicals company INEOS. They will oversee the sporting department of the club and allegedly hope to make major improvements to both the playing squad and the deteriorating Old Trafford home, which is in desperate need of renovation.
According to the Telegraph, a board meeting initially scheduled for Thursday has been delayed. There remain several facets of the agreement to iron out before the Glazers and the other board members can vote.
