CBS reporter Jacobs revealed on social media that Jasim has completely withdrawn from negotiations to acquire Manchester United Football Club.
Jacobs wrote: Jasim has completely withdrawn from the negotiation process for acquiring Manchester United, and he has 100% withdrawn. Even if the Glazer family changes their mind or does not advance the acquisition process with Sir Ratcliffe, Jasim’s offer will no longer be valid.
People close to Jasim have become tired of this process, while insiders closely related to the acquisition have consistently stated that the actual offer from Qatar does not match the public relations promotion. Jasim used various intermediaries, including a former US government official, which caught the seller off guard.
One of Ratcliffe’s greatest strengths is building relationships with those responsible for selling the club, including when he goes to Manchester for meetings and when he is in New York. Throughout the process, his flexibility and face-to-face communication left a deep impression on them.
Ratcliffe’s offer to acquire a 25% stake, along with control and sports speaking rights, is likely to be approved by Manchester United’s board of directors on Thursday. There are reports that both parties have reached a principled agreement on valuation and share ratio, but some specific details are still being negotiated.