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Qatari banker Sheikh Jassim bin Hamad al-Thani's unexpected withdrawal from the race to acquire the renowned soccer club, Manchester United, has sent shockwaves through the sporting world, as BBC Sport recently uncovered.
Sheikh Jassim had made a jaw-dropping £5 billion offer for the club, only for negotiations to hit an impasse this week. The Glazer family, who purchased Manchester United for £790 million back in 2005, had signaled their intentions to part ways with the club as of November 2022.
This ignited a flurry of interest from prospective buyers, with the British billionaire Sir Jim Ratcliffe and his petrochemical company entering the fray as significant contenders. Recent reports suggest that Sir Jim Ratcliffe is now exploring the possibility of securing a minority stake in Manchester United, estimated at around 25 percent.
Earlier in October, BBC Sport had reported Ratcliffe's contemplation of offering a minority stake as a potential solution to the ongoing ownership quandary.
The withdrawal of Sheikh Jassim and the prospective entry of Sir Jim Ratcliffe signify a turning point in the club's future
Ineos, Ratcliffe's company, has been vocal about its plans to transform Manchester United into a modern, fan-centric club that serves as a beacon of progress in the soccer world.
This vision appeared incongruent with the initial aspirations of Sheikh Jassim, who exclusively sought full ownership of the club, without compromise. For years, United fans have voiced their dissatisfaction with the Glazer family's ownership, organizing protests outside Old Trafford and elsewhere.
The club has been struggling to maintain the standards set during the illustrious era of legendary coach Sir Alex Ferguson, consistently falling short of fans' expectations. As the current season unfolds, Manchester United remains mired in uncertainty and turbulence.
The withdrawal of Sheikh Jassim and the prospective entry of Sir Jim Ratcliffe signify a turning point in the club's future, with the eyes of fans and the footballing world fixed firmly on the developments to come.