Man United Bidder Sheikh Jassim 'WITHDRAWS Bid In The Takeover Race' After Glazer Rejection.

 Manchester United’s potential takeover has taken another twist on Saturday.

Sheikh Jassim has been firmly in the frame to acquire the Red Devils since the Glazers began exploring strategic alternatives last November. But neither he nor Sir Jim are prepared to meet the owners' reported £6billion price tag.

Sheikh Jassim wanted to buy the club outright and launched what his party described as a fifth and final bid in June in an effort to get the deal over the line.

The Qatari's first bid for the club was made in February.

Multiple sources have now confirmed that Sheikh Jassim bin Hamad Al Thani has withdrawn his bid for the Premier League club entirely.

The decision arrives after additional talks took place earlier this week, with the Qatari businessman reportedly submitting an offer of £5 billion for 100% of the club in cash.

However, the American Glazers family who have bought the cub for £790m in 2005, felt the bid did not meet their valuation and declined, leading to him stepping away altogether.

The BBC claims his proposal would have included funds for stadium and training ground development, the wider community as well as bringing in players on the transfer market.

Sheikh Jassim’s team decline to comment on this news citing “confidentiality restrictions”, but have confirmed they’ve withdrawn from the process. 

The update leaves British businessman Sir Jim Ratcliffe as the lone candidate, with conflicting reports over whether the INEOS chief is looking to buy a majority or minority stake.

The other proposal is to buy around 25 per cent of the club by petrochemicals billionaire Sir Jim, who has said he has been a fan of the club since childhood, which now looks close to being agreed.

The 25% deal is viewed as first step in a gradual takeover — set to be voted at board meeting in the next days.

Anger against the ownership has continued to grow recently, as United have started the season by losing four of their opening eight Premier League games to sit 10th in the table.

Erik ten Hag's side have also lost both Champions League group games against Bayern Munich and Galatasaray so far in the 2023-24 campaign.