Sheikh Jassim made a fifth bid for the club last week which remains on the table, but will no longer engage in the process.
Sheikh Jassim is still waiting to hear whether his fifth and final bid for Manchester United has been successful, according to sources close to Qatar.
Recent reports in Qatar suggested that the Sheikh’s offer – which is for 100 per cent of the club – had trumped that of Ineos founder Sir Jim Ratcliffe.
However, Sheikh Jassim’s camp has described the reports as pure speculation and says they remain in a “holding pattern”. They expect the next step will be for United’s board to meet and consider both offers.
United have been approached for comment.
Sheikh Jassim’s fifth offer was made last week, but at the same time it was made clear to the Glazer family – which owns the club – and the Raine Merchant Banking Group, which is overseeing the sale, that they would not be involved in the process after the last one. Friday.
The Qataris are eager to seal a deal with the summer transfer window about to kick off.
Sheikh Jassim’s offer is understood to be an all-cash deal for 100 percent of the club and that all of United’s debts will be written off.
Sources close to the Sheikh’s bid say there will be separate additional funding for player recruitment, infrastructure and other investment needs.
The Glazers first announced their intention to consider selling the club in November last year, with the first bids from Ratcliffe and Sheikh Jassim submitted in February.
There have been reports that Ratcliffe’s offer is for 60 per cent of the club, with Avram and Joel Glazer retaining a joint 20 per cent stake, but sources close to Ratcliffe have not confirmed this.