Having had their second offer rejected by the Glazer family at the end of June, Sheikh Jassim decided to withdraw from the race to own Man Utd, paving the way for British billionaire Jim Ratcliffe to buy back 25% of the club’s shares.

In the most recent proposal, the Qatari billionaire still maintained his desire to buy back full ownership of Man Utd. Accordingly, Man Utd is valued at more than 6.06 billion USD (equivalent to 5 billion pounds) – nearly double the 3.3 billion USD based on market capitalization on the New York stock exchange, where the club is listed. stock listing.

However, according to Sky Sports , the Glazer family – owner of Man Utd since 2005 – still does not agree with the above proposal. Since intending to sell the club, the American billionaire family has valued the “Red Devils” at 7.3 billion USD and is determined not to give in. Therefore, Sheikh Jassim gave up his idea and informed this to the English club on October 14.

Al Thani is the Chairman of Qatar Islamic Bank. Photo: QIB

Sheikh Jassim is a member of the Qatari Royal Family, son of the former Prime Minister of Qatar, and Chairman of Qatar Islamic Bank. He has a total assets of 1.2 billion USD according to Forbes, and is the representative of the Qatar Public Investment Fund (QIA) – an organization with assets of about 450 billion USD.

Since intending to buy Man Utd in February 2023, the Qatari billionaire has sent five offers, with prices gradually increasing from the initial 5.5 billion to 6.06 billion USD. In addition, he is also willing to pay off Man Utd’s debt. The Glazer family bought Man Utd in 2005 for $1.5 billion. During the buying process, they borrowed about one billion and then transferred the debt to the club. For 20 years, the Manchester football team had to pay this debt to the American owners.

Because the sale of all Man Utd shares did not take place, the Glazer family turned to the plan of transferring a minority stake in the club. Accordingly, there is currently only one candidate, Jim Ratcliffe, a petrochemical billionaire, who wants to buy back 25% of Man Utd shares.

Billionaire Ratcliffe took photos outside Old Trafford. Photo: AFP

According to Sky Sports , Sheikh Jassim’s decision to withdraw is disappointing for many Man Utd members, especially coach Erik ten Hag and the first team managers. They are said to expect the Qatari billionaire to take over the club, pay off all debt, and inject more money for Man Utd to renovate facilities, including the Carrington training ground, and strengthen the force to return to competition. major titles.

Man Utd only finished third last season and has not been able to win the Premier League after the last time in 2013 – the last season coach Sir Alex Ferguson worked. They have also not been able to win the Champions League since their coronation in 2008. In the Premier League this season, the team under coach Ten Hag is ranked 10th, with four wins and four defeats through eight rounds.