Qatari banker Sheikh Jassim has pulled out of the race to buy Man United from the Glazer family.
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.
He had wanted to secure full control of the club, whereas Ratcliffe has always targeted a majority stake but is believed to still be in the running to acquire 25% of the club.Sheikh Jassim tabled a collection of bids during his period of interest, the most recent of which was understood to have been made in June. The whole process has made very little progress since.
Sheikh Jassim first registered his interest in purchasing United back in February, submitting an opening offer ahead of the original 'soft deadline' set by the Raine Group - the US bank overseeing the potential sale of the club. In the statement confirming his opening offer, the Qatari's plans were outlined, including how he planned to invest in Old Trafford and the club's Carrington training ground, as well as the first-team squad.
"The bid plans to return the Club to its former glories both on and off the pitch, and — above all — will seek to place the fans at the heart of Manchester United Football Club once more.
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