- Jassim withdrew bid after talks broke down
- Ratcliffe poised to take over
- Qatari banker wishes club all the best
WHAT HAPPENED? In a takeover saga that was initially forecasted to conclude at the end of last season, the Qatari banker announced he would be withdrawing his offer of a reported £5billion ($6.2bn) last month. The bid was for the entirety of the club in a debt-free deal that also promised up to £1.38bn ($1.7bn) in infrastructure investment. However, after Sheikh Jassim failed to strike a deal with the Glazer family, it is now Ratcliffe who is poised to take over, albeit for 25 per cent of the club for £1.25bn ($1.54bn).
THE BIGGER PICTURE: While United's decision to elect Ratcliffe has been met with staunch criticism from supporters and pundits alike - namely for its prolongation of the Glazers behind the scenes - it appears there is no bad blood from Sheikh Jassim's camp. Sky Sports reports that the Qatari banker wishes the club all the best under Ratcliffe's part-ownership, as he remains a United supporter and wants them to be "as successful as possible" going forward.
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WHAT NEXT? Ratcliffe's part acquisition of the club is considered a formality, and all that remains is an official announcement from the club.