Qatar Billionaire Sheikh Jassim,a top candidate for taking over Manchester United, withdrew from the process of buying the historical Manchester Club after doubling the $3.5b market valuation of the club.
As first called by Fabrizio Romano, the final bid from Jassim is close to double the initial $3.5 billion market valuation. A plan to invest an extra $1.5 billion was agreed on before now.
Jassim had planned to clear old debt and invest heavily in the club. Presently, Manchester United is reportedly in debt of over £1 billion.
Since November 2022, Manchester United has been up for sale, and Jassim, among others, has been a top favorite to take over the club.
Sheikh Jassim’s plan was to buy Manchester United 100% from the present owners, the Glazers. However, Jassim’s bid for 100% takeout was rejected by the Glazers family.
It is understood that this prompted the decision to withdraw from buying the club. The Glazers are aware of this decision and have yet to react.