After months of speculation, Qatari&nbsp;banker Sheikh Jassim bin Hamad Al Thani has withdrawn from the process of buying Manchester United, according to multiple reports.&nbsp;The current owners of United, the Glazer family was informed about the Qatari businessman's decision late Saturday evening.&nbsp;&nbsp;

Jassim's offer, which valued the club at $3.5&nbsp;billion was believed to be the only bid for 100 per cent of the club. He had committed an&nbsp;additional initial amount of over $1.5 billion for the club and was ready to finance new stadium plans, new training centre facilities,&nbsp;buy players, and fast-track city/community regeneration projects, according to football journalist Fabrizio Romano.&nbsp;

The withdrawal comes after Sheikh Jassim launched a fifth and final bid in June to get over the line. However, the reluctance of the Glazers to let go of the complete ownership of the club meant that the deal remained stuck, testing the patience of the Qatari businessman.&nbsp;

After Sheikh Jassim's withdrawal,&nbsp;British businessman Sir Jim Ratcliffe's Ineos Group remains the only bidder. According to a BBC report, Ratcliffe is now attempting to conclude a deal for a minority stake in the club, thought to be around 25 per cent.&nbsp;

<h2>Sheikh Jassim's initial bid</h2>

Sheikh Jassim, the chairman of one of Qatar’s biggest banks had filed an initial bid for the complete ownership of the club&nbsp;in February, earlier this year, after the Glazers announced plans to sell the club in November last year.&nbsp;

<a href="https://www.wionews.com/sports/its-official-bids-put-in-for-manchester-united-by-qatari-banker-and-british-billionaire-563282">Also read |&nbsp;It's official! Qatari banker and British billionaire Ratcliffe submit bids for Manchester United</a>

At the time, Sheikh Jassim said he was&nbsp;putting in the bid to steer the club to its 'former glories' both on and off the pitch. Explaining how he will be changing the footballing landscape of one of the biggest clubs in the world, the statement read:&nbsp;"The bid will be completely debt free via Sheikh Jassim's Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the Club supports."

For a long time, a vocal section of United fanbase has been demanding that Glazers give up their control of the club, primarily due to their poor decision-making involving the benefit of the club.&nbsp;

(With inputs from agencies)

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After months of speculation, Qatari banker Sheikh Jassim bin Hamad Al Thani has withdrawn from the process of buying Manchester United, according to multiple reports.

After months of speculation, Qatari banker Sheikh Jassim bin Hamad Al Thani has withdrawn from the process of buying Manchester United, according to multiple reports. The current owners of United, the Glazer family was informed about the Qatari businessman's decision late Saturday evening. Jassim's offer, which valued the club at $3.5 billion was believed to be the only bid for 100 per cent of the club. He had committed an additional initial amount of over $1.5 billion for the club and was ready to finance new stadium plans, new training centre facilities, buy players, and fast-track city/community regeneration projects, according to football journalist Fabrizio Romano. The withdrawal comes after Sheikh Jassim launched a fifth and final bid in June to get over the line. However, the reluctance of the Glazers to let go of the complete ownership of the club meant that the deal remained stuck, testing the patience of the Qatari businessman. After Sheikh Jassim's withdrawal, British businessman Sir Jim Ratcliffe's Ineos Group remains the only bidder. According to a BBC report, Ratcliffe is now attempting to conclude a deal for a minority stake in the club, thought to be around 25 per cent. Sheikh Jassim's initial bid Sheikh Jassim, the chairman of one of Qatar’s biggest banks had filed an initial bid for the complete ownership of the club in February, earlier this year, after the Glazers announced plans to sell the club in November last year. Also read | It's official! Qatari banker and British billionaire Ratcliffe submit bids for Manchester United At the time, Sheikh Jassim said he was putting in the bid to steer the club to its 'former glories' both on and off the pitch. Explaining how he will be changing the footballing landscape of one of the biggest clubs in the world, the statement read: "The bid will be completely debt free via Sheikh Jassim's Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the Club supports." For a long time, a vocal section of United fanbase has been demanding that Glazers give up their control of the club, primarily due to their poor decision-making involving the benefit of the club. (With inputs from agencies) WATCH WION LIVE HERE:

Football: Qatar's Sheikh Jassim withdraws from race to buy Manchester United from Glazers

Qatari banker Sheikh Jassim bin Hamad Al Thani and British billionaire Jim Ratcliffe made their third and final offers to buy Manchester United on Friday. Sheikh Jassim is in a bidding war with Ratcliffe after the pair emerged as the main contenders to buy the Premier League club from the Glazer family.

While Sheikh Jassim's latest offer is reported to be over £5 billion ($6.2 billion), the size of Ratcliffe's improved bid was yet to be made public when Friday's deadline for the third round of bidding passed at 2100 GMT.

Sources said Sheikh Jassim's bid for 100 percent control of the club comes with the promise of significant additional funding for transfers and infrastructure. The spending would include either redeveloping United's out-dated Old Trafford stadium or build a new ground, along with overhauling the club's training facilities.

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Sheikh Jassim has submitted his final bid for Manchester United. 🚨🔴🇶🇦 <a href="https://twitter.com/hashtag/MUFC?src=hash&amp;ref_src=twsrc%5Etfw">#MUFC</a> 
 
In addition to figure to buy the Club, Qatari’s proposal also includes a plan to invest a further significant amount of additional capital and infrastructure investment into the Club directly. <a href="https://t.co/evTWGUZmaK">pic.twitter.com/evTWGUZmaK</a>
— Fabrizio Romano (@FabrizioRomano) <a href="https://twitter.com/FabrizioRomano/status/1652056320332161027?ref_src=twsrc%5Etfw">April 28, 2023</a></blockquote>
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Sheikh Jassim's bid also promises to erase United's $620 million debt.

ALSO READ:&nbsp;<a href="https://www.wionews.com/sports/serie-a-naples-ready-for-napolis-coronation-as-fans-get-ready-for-big-celebration-ahead-of-title-clincher-587054">Serie A: Naples ready for Napoli's coronation as fans get ready for big celebration ahead of title clincher</a>

INEOS chemical company founder Ratcliffe, a boyhood United fan who failed in his attempt to buy Chelsea last year, reportedly wants to purchase a controlling stake in United of more than 50 per cent.

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Sir Jim Ratcliffe’s INEOS group third bid for Manchester United has also been submitted. 🚨🔴 <a href="https://twitter.com/hashtag/MUFC?src=hash&amp;ref_src=twsrc%5Etfw">#MUFC</a> <a href="https://t.co/m8vIkElKsX">pic.twitter.com/m8vIkElKsX</a>
— Fabrizio Romano (@FabrizioRomano) <a href="https://twitter.com/FabrizioRomano/status/1652059849029570562?ref_src=twsrc%5Etfw">April 28, 2023</a></blockquote>
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That would allow United's executive co-chairmen Joel and Avram Glazer to remain as shareholders with a 20 percent stake, which has raised concerns among a fanbase tired of the Americans' controversial reign.

The Glazers reportedly want a world record £6 billion fee for a sports club before they agree to sell the Old Trafford outfit, raising the possibility they might not accept either Sheikh Jassim's offer or Ratcliffe's approach.

Deeply unpopular with supporters since they saddled the club with debt in a £790 million leveraged takeover in 2005, the Glazers appeared ready to cash out at an enormous profit when they first invited external investment in November.

However, Elliot Investment Management and The Carlyle Group are among the private equity firms in the market for a minority stake that could allow the Glazers to retain control and provide the funding for investment in the club's infrastructure.

Avram and Joel Glazer are reportedly keen to hold on to their stakes in United, while siblings and fellow directors Kevin, Bryan and Edward Glazer and Darcie Glazer Kassewitz are open to offloading their shares.

Offers from the last round of bidding, a process run for the Glazers by New York merchant bank the Raine Group, were believed to have been worth a maximum of £5 billion.

That would have smashed the Premier League record of £2.5 billion paid for Chelsea last year by a consortium led by Los Angeles Dodgers co-owner Todd Boehly and private equity firm Clearlake Capital, with a further £1.75 billion promised in investment in infrastructure and players.

- 'Dire need' -

The Manchester United Supporters' Trust (MUST) has called for a swift conclusion to the process to allow new owners to be in place for the summer transfer window.

"We are in dire need of new investment, which undoubtedly requires new ownership. MUST, along with United fans all around the world, are calling for this process to be concluded without further delay," the fans' group said in a statement.

United fans are believed to be planning a protest against the Glazers ahead of Sunday's match with Aston Villa at Old Trafford.

Qatari banker Sheikh Jassim bin Hamad Al Thani and British billionaire Jim Ratcliffe made their third and final offers to buy Manchester United on Friday. Sheikh Jassim is in a bidding war with Ratcliffe after the pair emerged as the main contenders to buy the Premier League club from the Glazer family.

Qatari banker Sheikh Jassim bin Hamad Al Thani and British billionaire Jim Ratcliffe made their third and final offers to buy Manchester United on Friday. Sheikh Jassim is in a bidding war with Ratcliffe after the pair emerged as the main contenders to buy the Premier League club from the Glazer family. While Sheikh Jassim's latest offer is reported to be over £5 billion ($6.2 billion), the size of Ratcliffe's improved bid was yet to be made public when Friday's deadline for the third round of bidding passed at 2100 GMT. Sources said Sheikh Jassim's bid for 100 percent control of the club comes with the promise of significant additional funding for transfers and infrastructure. The spending would include either redeveloping United's out-dated Old Trafford stadium or build a new ground, along with overhauling the club's training facilities. Sheikh Jassim has submitted his final bid for Manchester United. 🚨🔴🇶🇦 #MUFC In addition to figure to buy the Club, Qatari’s proposal also includes a plan to invest a further significant amount of additional capital and infrastructure investment into the Club directly. pic.twitter.com/evTWGUZmaK — Fabrizio Romano (@FabrizioRomano) April 28, 2023 × Sheikh Jassim's bid also promises to erase United's $620 million debt. ALSO READ: Serie A: Naples ready for Napoli's coronation as fans get ready for big celebration ahead of title clincher INEOS chemical company founder Ratcliffe, a boyhood United fan who failed in his attempt to buy Chelsea last year, reportedly wants to purchase a controlling stake in United of more than 50 per cent. Sir Jim Ratcliffe’s INEOS group third bid for Manchester United has also been submitted. 🚨🔴 #MUFC pic.twitter.com/m8vIkElKsX — Fabrizio Romano (@FabrizioRomano) April 28, 2023 × That would allow United's executive co-chairmen Joel and Avram Glazer to remain as shareholders with a 20 percent stake, which has raised concerns among a fanbase tired of the Americans' controversial reign. The Glazers reportedly want a world record £6 billion fee for a sports club before they agree to sell the Old Trafford outfit, raising the possibility they might not accept either Sheikh Jassim's offer or Ratcliffe's approach. Deeply unpopular with supporters since they saddled the club with debt in a £790 million leveraged takeover in 2005, the Glazers appeared ready to cash out at an enormous profit when they first invited external investment in November. However, Elliot Investment Management and The Carlyle Group are among the private equity firms in the market for a minority stake that could allow the Glazers to retain control and provide the funding for investment in the club's infrastructure. Avram and Joel Glazer are reportedly keen to hold on to their stakes in United, while siblings and fellow directors Kevin, Bryan and Edward Glazer and Darcie Glazer Kassewitz are open to offloading their shares. Offers from the last round of bidding, a process run for the Glazers by New York merchant bank the Raine Group, were believed to have been worth a maximum of £5 billion. That would have smashed the Premier League record of £2.5 billion paid for Chelsea last year by a consortium led by Los Angeles Dodgers co-owner Todd Boehly and private equity firm Clearlake Capital, with a further £1.75 billion promised in investment in infrastructure and players. - 'Dire need' - The Manchester United Supporters' Trust (MUST) has called for a swift conclusion to the process to allow new owners to be in place for the summer transfer window. "We are in dire need of new investment, which undoubtedly requires new ownership. MUST, along with United fans all around the world, are calling for this process to be concluded without further delay," the fans' group said in a statement. United fans are believed to be planning a protest against the Glazers ahead of Sunday's match with Aston Villa at Old Trafford.

Jim Ratcliffe, Sheikh Jassim submit final bids to buy Manchester United from Glazer family

The battle to buy Manchester United heated up on Wednesday as Qatari banker Sheikh Jassim Bin Hamad Al Thani and British billionaire Jim Ratcliffe prepared to raise their bids for the 20-time English champions.

Both parties were expected to increase their initial offers after the submission deadline of 2100 GMT was extended by merchant bank Raine, which is assisting with the sale of the club, following confusion over the timing, the BBC reported.

Sky Sports also reported that Sheikh Jassim and Ratcliffe had been granted extensions to submit fresh bids.

The new deadline for offers has not been made clear, according to the BBC.

United's owners, the Glazer family, have reportedly set a world record £6 billion ($7.3 billion) valuation for a sports club.

ALSO READ:&nbsp;<a href="https://www.wionews.com/sports/manchester-united-takeover-battle-heats-up-ahead-of-deadline-for-improved-second-bids-574763">Manchester United takeover: Battle heats up ahead of deadline for improved second bids</a>

Sheikh Jassim's bid for 100 per cent control of the club promises to wipe United's $620 million debt and invest in a new stadium and training ground, in addition to backing for the men's and women's teams. A source close to Sheikh Jassim's bid told AFP that he remains confident his bid is "the best for the club, fans and local community."

INEOS chemical company founder Ratcliffe, a boyhood United fan, has been more circumspect in his assessment, insisting he will not pay a "stupid" price in a bidding war for one of football's most iconic clubs.

"How do you decide the price of a painting? How do you decide the price of a house? It's not related to how much it cost to build or how much it cost to paint," Ratcliffe told the Wall Street Journal this week. "What you don't want to do is pay stupid prices for things because then you regret it subsequently."

Ratcliffe, who wants the 69 per cent stake owned by the Glazer family, said his interest in United would be "purely in winning things", calling the club a "community asset".

Deeply unpopular with supporters since they saddled the club with debt in a £790 million leveraged takeover in 2005, the Glazers appeared ready to cash out at an enormous profit when they invited external investment in November.

However, they could yet shun the option of selling a controlling stake in the club, with other parties interested in a minority shareholding.

The initial offers from the first round of bidding last month were believed to have been worth around £4.5 billion.

That would surpass the Premier League record of £2.5 billion paid for Chelsea last year by a consortium led by LA Dodgers co-owner Todd Boehly and private equity firm Clearlake Capital, with a further £1.75 billion promised in investment in infrastructure and players.

Bidders are expected to hear from United next week, with another round of bidding still in play.

If one bid is vastly ahead of the others, it could be chosen to enter into a period of exclusivity, which would allow further negotiation ahead of a final sale.

<h3>Elliott Investment jump to aid financing of bid</h3>

U.S.-based hedge fund giant Elliott Investment Management is planning to offer financing for a bid to take over Manchester United, sources close to the matter told Reuters. The fund has ruled itself out of a full takeover of the Premier League soccer club, the source added on Saturday. It is unclear at this stage which bid Elliott, who owned Serie A champions AC Milan until last year, will be involved in.

The battle to buy Manchester United heated up on Wednesday as Qatari banker Sheikh Jassim Bin Hamad Al Thani and British billionaire Jim Ratcliffe prepared to raise their bids for the 20-time English champions.

The battle to buy Manchester United heated up on Wednesday as Qatari banker Sheikh Jassim Bin Hamad Al Thani and British billionaire Jim Ratcliffe prepared to raise their bids for the 20-time English champions. Both parties were expected to increase their initial offers after the submission deadline of 2100 GMT was extended by merchant bank Raine, which is assisting with the sale of the club, following confusion over the timing, the BBC reported. Sky Sports also reported that Sheikh Jassim and Ratcliffe had been granted extensions to submit fresh bids. The new deadline for offers has not been made clear, according to the BBC. United's owners, the Glazer family, have reportedly set a world record £6 billion ($7.3 billion) valuation for a sports club. ALSO READ: Manchester United takeover: Battle heats up ahead of deadline for improved second bids Sheikh Jassim's bid for 100 per cent control of the club promises to wipe United's $620 million debt and invest in a new stadium and training ground, in addition to backing for the men's and women's teams. A source close to Sheikh Jassim's bid told AFP that he remains confident his bid is "the best for the club, fans and local community." INEOS chemical company founder Ratcliffe, a boyhood United fan, has been more circumspect in his assessment, insisting he will not pay a "stupid" price in a bidding war for one of football's most iconic clubs. "How do you decide the price of a painting? How do you decide the price of a house? It's not related to how much it cost to build or how much it cost to paint," Ratcliffe told the Wall Street Journal this week. "What you don't want to do is pay stupid prices for things because then you regret it subsequently." Ratcliffe, who wants the 69 per cent stake owned by the Glazer family, said his interest in United would be "purely in winning things", calling the club a "community asset". Deeply unpopular with supporters since they saddled the club with debt in a £790 million leveraged takeover in 2005, the Glazers appeared ready to cash out at an enormous profit when they invited external investment in November. However, they could yet shun the option of selling a controlling stake in the club, with other parties interested in a minority shareholding. The initial offers from the first round of bidding last month were believed to have been worth around £4.5 billion. That would surpass the Premier League record of £2.5 billion paid for Chelsea last year by a consortium led by LA Dodgers co-owner Todd Boehly and private equity firm Clearlake Capital, with a further £1.75 billion promised in investment in infrastructure and players. Bidders are expected to hear from United next week, with another round of bidding still in play. If one bid is vastly ahead of the others, it could be chosen to enter into a period of exclusivity, which would allow further negotiation ahead of a final sale. Elliott Investment jump to aid financing of bid U.S.-based hedge fund giant Elliott Investment Management is planning to offer financing for a bid to take over Manchester United, sources close to the matter told Reuters. The fund has ruled itself out of a full takeover of the Premier League soccer club, the source added on Saturday. It is unclear at this stage which bid Elliott, who owned Serie A champions AC Milan until last year, will be involved in.

Qatar banker Sheikh Jassim prepares fresh bid to buy Manchester United as deadline extended

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Football: Qatar's Sheikh Jassim withdraws from race to buy Manchester United from Glazers

Jim Ratcliffe, Sheikh Jassim submit final bids to buy Manchester United from Glazer family

Qatar banker Sheikh Jassim prepares fresh bid to buy Manchester United as deadline extended