According to reports, Sheikh Jassim Bin Hamad Al Thani, a banker from Qatar, has lost interest in purchasing Manchester United, a premier English Premier League team.
As far as Naija News is aware, Manchester United had already declared in writing that they were looking into a number of avenues to further their development, including the possibility of a complete sale.
Following many rounds of bidding earlier this year, Sheikh Jassim and British tycoon Jim Ratcliffe emerged as the front-runners.
Nevertheless, supporters are unhappy with the present owners, the Glazer family, and the process has lately come to a halt. Al Thani has reportedly lost interest in purchasing United, the BBC reported on Saturday.
Since taking control of the team through a leveraged purchase in 2005, the Glazer family has accumulated substantial debt of £970 million. They are reportedly holding out for a record-breaking price of more than £6 billion to acquire the football team.
In his bid to take over Manchester United, Sheikh Jassim pledged to reduce the team’s debt. However, it has been stated that Ratcliffe is prepared to buy a lesser share to break the ownership impasse.
The team’s on-field play has also suffered under the Glazers’ direction.
Since previous manager Alex Ferguson’s retirement in 2013, Manchester United has not won the Premier League, and their most recent Champions League triumph came in 2008.
Manchester United is now ranked tenth in the Premier League and has lost both of its opening two Champions League group stage games, a first for the team.
