“Qatari Banker Sheikh Jassim Al Thani Ends Pursuit of Manchester United”
In recent developments, Qatari banker Sheikh Jassim Bin Hamad Al Thani has decided to no longer pursue the acquisition of the English Premier League club, Manchester United.
This decision comes after Manchester United’s official announcement regarding their exploration of growth-enhancing options, including a potential full sale.
“Previous Contenders and the Halt in the Sale Process”
Sheikh Jassim and British billionaire Jim Ratcliffe were prominent contenders in multiple rounds of bidding earlier this year
. Despite the expressed dissatisfaction of Manchester United supporters with the current owners, the Glazer family, the sale process has recently hit a standstill.
As reported by BBC, Sheikh Jassim Al Thani has opted to withdraw his interest in the acquisition.
“Debts and Record-Breaking Sale Fee”
Notably, the Glazers, who have owned Manchester United since a leveraged takeover in 2005, are burdened with substantial debts amounting to £970 million.
Reports suggest that they are holding out for a record-breaking fee exceeding £6 billion for the sale of the football club.
Sheikh Jassim’s bid had aimed to secure full control of Manchester United while offering to address the club’s debt issues.
In contrast, Jim Ratcliffe is reportedly open to acquiring a smaller stake in an effort to resolve the ownership deadlock.
“Performance and Current Position”
Under the leadership of the Glazers, Manchester United’s on-field performance has faced challenges.
The club has not clinched a Premier League title since the retirement of former manager Sir Alex Ferguson in 2013, and their most recent Champions League victory dates back to 2008.
Presently, Manchester United finds itself in the 10th position in the Premier League and has experienced defeats in their first two group stage matches of the Champions League, marking a historic setback for the club.
Read More On The Topic On TDPel Media
Related posts:
Manchester United Ownership Saga: Glazers Reject Multibillion Offer from Sheikh Jassim The Glazers’ 18-Year Ownership of Manchester United For the past 18 years, the Glazer family has maintained ownership of Manchester United, having acquired the football...
Officials Hold Preparatory Meeting for 8th Session of Qatari-Moroccan Joint Supreme Committee On Sunday, key officials attended a preliminary meeting for the 8th session of the Qatari-Moroccan Joint Supreme Committee, which will begin in Doha on Monday....
UAE, Qatari delegations discuss in Doha implementation of Al-Ula Declaration UAE, Qatari delegations discuss in Doha implementation of Al-Ula Declaration DOHA, 10th February, 2022 – Two official delegations representing the United Arab Emirates and Qatar...
Jeff Zucker Expresses Interest in Future CNN Acquisition Jeff Zucker’s Ambitious Declaration Former CNN boss Jeff Zucker has made a notable declaration, expressing his interest in potentially acquiring the news network in the...
Nasir El-Rufai Withdraws Interest in Tinubu’s Ministerial Appointment Former Kaduna State Governor, Nasir El-Rufai, has recently decided to withdraw his aspiration for a ministerial appointment under President Bola Tinubu. This change of heart...
Manchester United’s Antony Set to Meet Greater Manchester Police Amid Domestic Violence Allegations Antony of Manchester United to Cooperate with Police in Domestic Violence Case Manchester United’s winger, Antony, is expected to cooperate with the Greater Manchester Police...
Football Mourns Sir Bobby Charlton as Manchester United Faces Sheffield United The English Premier League encounter between Sheffield United and Manchester United takes place tonight at Brammall Lane, but this match is overshadowed by the emotional...
Sir Bobby Charlton Tribute Match: Sheffield United vs. Manchester United Emotional Night at Bramall Lane Tonight’s match at Bramall Lane is more than just football. The passing of the legendary Sir Bobby Charlton has cast...
Newcastle United and Manchester United to Clash in Highly Anticipated EFL Cup Match Newcastle United to host Manchester United in EFL Cup fourth round Newcastle United and Manchester United are set to clash in the EFL Cup fourth...
Fire Guts Sheikh Gumi’s Residence In Kaduna According to the source, “We just saw smoke coming out from one of the classes. We immediately drew the attention of the people around and...