Sheikh Jassim bin Hamad Al Thani’s final – and failed – bid to takeover at Manchester United was worth a record-breaking $8 billion.
The Qatari banker has withdrawn from the process to purchase the Premier League side, following a drawn-out saga that has seen a number of rejected bids.
Sheikh Jassim first registered interest in taking over at Manchester United after an announcement from the Glazer family in November 2022, in which the club’s current owners expressed interest in selling their shares at Old Trafford.
Both Sheikh Jassim and British billionaire Sir Jim Ratcliffe have since seen multiple bids turned down, with doubt over the true intention of the Glazers, who have been unpopular owners since buying the Red Devils in a heavily-leveraged deal in 2005.
Fabrizio Romano is reporting that Sheikh Jassim’s offer was the only fully cash bid, worth more than $8bn (£6.6bn) in total package. The deal would have seen Manchester United’s current debt cleared, while the offer was for 100% of the club.
According to the BBC, there would have been £1.4bn made available to finance infrastructure plans, including a potential new stadium, new training facilities, player signings and community regeneration projects.
In comparison to Sheikh Jassim, Ratcliffe has shown interest in a minority stake, with a view to gaining a majority stake in the club further down the line. That option appears to remain open, as the Glazers look to bring in investment.