Qatari Investors Withdraw Bid for Manchester United
- Sheikh Jassim Bin Hamad J.J. Al Thani offered over £5 billion
- Move increases likelihood of Glazers remaining owners of club
The Old Trafford football ground, home of Manchester United Football Club, in Manchester, UK.
Photographer: Anthony Devlin/BloombergThis article is for subscribers only.
The Qatari group led by Sheikh Jassim Bin Hamad J.J. Al Thani has withdrawn its bid to buy Manchester United, people familiar said, paving the way for British billionaire Jim Ratcliffe to eventually gain control of the storied football club.
The Qataris had offered more than £5 billion ($6.1 billion) for the team, compared to its current market value of $3.3 billion. The offer wasn’t enough to satisfy the demands of the club’s owners, the Glazer family, people familiar with their thinking said, who asked not to be named discussing private information.