Sheikh Jassim bin Hamad Al Thani has shut the door on potentially rekindling negotiations with the Glazers regarding his previous proposal to take complete control of Manchester United, Fabrizio Romano reports.
The Qatari banker had been hoping to complete a full takeover at Old Trafford after the Glazers announced they would consider all strategic alternatives, including new investment into the club, a sale or other transactions.
Sheikh Jassim’s final proposal was valued at approximately £5 billion, including a commitment to clearing Man United’s outstanding debts and investing an additional £1bn into the transfer market.
The Qatari billionaire also pledged to improve the club’s facilities, promising to oversee an era of revitalisation both on and off the pitch.
His vision encompassed investment in the football teams, the training centre, the stadium, and the wider infrastructure, with the ultimate goal of re-establishing the club as the world’s finest.
However, he decided to withdraw from the race over the weekend following repeated rounds of negotiations with the Glazers that yielded no positive outcome.
Raine Group, the New York investment banking firm tasked with carrying out the process on behalf of the Glazers, were informed of his decision, and Romano affirms he will not shift his stance.
Sheikh Jassim’s withdrawal paved the way for Ratcliffe to finalise a deal, with the British billionaire now poised to acquire a 25% stake in the club worth around £1.4bn.
The Man United board have scheduled a meeting for Thursday to discuss his offer, which will grant Ratcliffe complete control of the club’s sporting operation.
The primary objective for Ratcliffe will be to overhaul the club’s recruitment system, with Paul Mitchell already in line to take over as the new sporting director.
Former Liverpool duo Julian Ward and Michael Edwards are also in the running, but it remains uncertain whether they can be convinced to return to the Premier League.
