Sheikh Jassim bin Hamad al-Thani will not launch a fresh bid to buy Manchester United, despite the club's share price falling over 17% year on year and the team facing a bleak future without European football. The Qatari banker’s £5bn offer collapsed last year, and his camp has no intention of returning, according to reports.
The Glazers instead sold a minority stake to Sir Jim Ratcliffe’s Ineos, who assumed control of football operations. However, United are set to finish in the bottom half of the Premier League for the first time, have missed out on Champions League qualification, and will have no European football next season—only the second time in 30 years.
Ratcliffe has implemented cost-cutting measures and redundancies, but fans have protested against the Glazers at the final home game of the season. Despite the club’s struggles and a potential cut-price deal, Sheikh Jassim remains uninterested in renewing his bid, having always insisted on buying the club outright and clearing its debts.
Middle Eastern investment in English football has grown, with Manchester City owned by Abu Dhabi and Newcastle United by Saudi Arabia. Qatar already owns Paris Saint-Germain in France but has no presence in England’s top flight. Ratcliffe has no desire to sell, and Ineos is committed to turning the club around despite the current turmoil.
