Sir Jim Ratcliffe will pay 1 billion pounds for twenty five per cent of Manchester United after Qatari businessman Sheikh Jassim bin Hamad al Thani withdrew from the bidding process.
Sheikh Jassim is understood to have raised his offer for United in June but it was not satisfactory for the Glazers despite being far more than the club’s three point three billion dollars valuation.
Sheikh Jassim’s offer, which valued United at more than £5bn, was believed to be the only bid for 100 per cent of the club. This was however not sufficient for the Glazers, making Sheikh Jassim withdraw from the process.
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