The sale of Manchester United hit a significant bump this week after a strong bidder pulled out of the race.
As confirmed by Football Insider, Finnish entrepreneur, Thomas Zilliacus’ has officially withdrawn his offer for the club.
Zilliacus made his decision after The Glazer family announced there a third round of bids would need to be tabled.
The new round of bids led to Zilliacus pulling out, labelling the handling of the sale as “a farce”.
“I will not participate in a farce set up to maximize the profit for the sellers at the expense of Manchester United,” he said.
The Fin confirmed himself, Sheikh Jassim and Jim Ratcliffe had all submitted second offers to the Raine Group who are acting as brokers for The Glazer family throughout the sale.
“Jim Ratcliffe, Sheik Jassim and myself all were ready to negotiate a deal to buy United. Instead Glazers chose to start a new round,” said Zilliacus.
A part of Zilliacus’ proposal was to make half of United’s shares available to supporters if his bid was successful.
Despite the public criticism of the process, sources say that the Raine Group never truly took the bid from Zilliacus that seriously and believe the key bidders are still in the running.
Sources added that the withdrawal will have barely registered with the Raine Group who expect Sheikh Jassim and Sir Jim Ratcliffe to make their respective third bids.
With the third round of bidding now underway, fans will be desperate for a conclusion in the coming weeks.
Erik ten Hag will also be hoping for clarity over the situation with his summer transfer strategy hinging on the outcome.
United will need a strong closed season market if they are to mount a serious title charge next campaign, after a season of progress under the Dutch boss.
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