Sheikh Jassim has withdrawn his bid for Manchester United takeover in a shock move by the Qatari investor, MySportDab reports.
Sheikh Jassim was previously tipped to take over the club as new owner in a two-horse race that involved him and British billionaire and Ineos owner, Sir Jim Ratcliffe.
Now, according to reports reaching us from Daily Mail, Sir Jim Ratcliffe is the only contender left in the race for Man United takeover as his Qatari rival has now pulled the plug.
Details of why Shiekh Jassim’ decision to quit reveals the Qatari investor was unhappy of how the Glazers have handled the sale process so far.
Sheikh Jassim reportedly submitted a late and final offer worth £5.5bn to the Glazers to pushed through a deal but was turned down since it did not meet the 6bn valuation of the Glazers.
He also reportedly met with the Glazers on the final days to discuss and broker a possible deal but was could not make it happen.
Following a series of rejections, he finally decided to pull the plug after nine months into the race with sources close to him revealing he was growingly frustrated with the entire process.
More details revealed the Qatari investor is disappointed with how it has finally panned and he had hoped to become the owner of the club and would have did his best for the club but is sorry he could not push through the move as he planned.
MySportDab understand Sheikh Jassim differed on his bid for Manchester United as he wanted a full takeover deal while his rival, Sir Jim Ratcliffe, wanted a partial ownership that will still leave the Glazers partly in control.
Sir Jim Ratcliffe is now the contender left in the race to take over Manchester United takeover race but it is still unclear whether the Glazers will still go ahead with sale decision.