Manchester United owners reject Sheikh Jassim’s bid which clears all old debt, forces him to withdraw interest in buying club: Fabrizio Romano
Sheikh Jassim has withdrawn from the bidding process to buy Manchester United after the Glazers rejected a proposal, per transfer expert Fabrizio Romano.
Romano reports that Sheikh Jassim held further talks with the Glazers to buy the Premier League club in its entirety. However, his bid proposition was again rejected by the United owners.
The Qatari businessman has since informed the Glazers that he's ready to withdraw from the process. A full cash bid, clearing all old debt, with zero new debt was made for 100% of the club.
It comes as somewhat of a shock given that United legend David Beckham suggested just days ago that he was backing the Qatari bid. It means that INEOS chairman Sir Jim Ratcliffe is now the sole frontrunner to win the race to buy the Red Devils.
The Glazers placed United up for sale in November 2022 seeking to explore strategic alternatives for the club. This led to as much as six rounds of bidding with Sheikh Jassim and Ratcliffe soon becoming the leading bidders.
However, the Red Devils' owners have taken their time in making a decision which has led to impatience from bidders and fans. Several protests have taken place at Old Trafford, demanding that the Glazers leave.
David Beckham wants Manchester United's ownership to change
David Beckham made clear on Thursday (October 12) that he wanted United to be sold. He stressed that now was the time for the club to change ownership:
"It’s the right time for somebody else to take over at Manchester United! At the moment there’s no stability at Manchester United. I want an ownership to take over and take United back to where they should be!"
There had been claims that Sheikh Jassim had eyed Beckham for an ambassadorial role as part of his bid. However, the former Red Devils winger played this down:
"At the moment there’s been no discussion of that, but everybody knows that I’m a Manchester United fan and I’ve been very vocal about the situation at United.”
The Glazers have been owners of the Old Trafford outfit since 2005 but have held a frosty relationship with the club's fans throughout their ownership. The Red Devils have nosedived over recent years, last winning the Premier League title in 2013.
Beckham took up an ambassadorial role with Qatar for the 2022 FIFA World Cup. Many fans hoped that such a position for him would help Sheikh Jassim's aim to clinch a takeover but it appears he's withdrawn from the process.