Thomas Zilliacus withdraws Man Utd bid and says decision to have third round of bidding a 'farce'

1 year ago 37

Outside changeable of the Main Stand astatine Old Trafford

Finnish entrepreneur Thomas Zilliacus has withdrawn his connection to bargain Manchester United, saying the determination of existent owners the Glazers to spell to a 3rd circular of bidding is simply a "farce".

The 69-year-old said the Glazers were giving "no respect" to the club.

Zilliacus, Qatari banker Sheikh Jassim and Ineos proprietor Sir Jim Ratcliffe person publically submitted 2nd bids.

"The delays volition marque it precise hard for immoderate caller proprietor to physique a winning squad for adjacent season," helium said.

Writing connected Twitter, Zilliacus added: "The bidding is turning into a farce, with Glazers giving nary respect to the club.

"Jim Ratcliffe, Sheik Jassim and myself each were acceptable to negociate a woody to bargain United. Instead Glazers chose to commencement a caller round.

"I volition not enactment successful a farce acceptable up to maximize the nett for the sellers astatine the disbursal of Manchester United."

Zilliacus, who has antecedently been progressive with HJK Helsinki and crystal hockey champions Jokerit successful his homeland, is the laminitis and president of caller societal media organisation novaM Group.

He wanted to bargain United done XXI Century Capital, an concern steadfast owned by his holding company.

When publically announcing his bid last month the entrepreneur said helium planned to bargain fractional of the nine with the different fractional bought by fans, who would beryllium portion of nine decision-making.

The Glazer family, who bought the Red Devils for £790m successful 2005, announced they were considering selling successful November and person established a valuation of £5bn-6bn.

The determination to spell to a 3rd circular of bidding means imaginable purchasers, either of the full nine oregon conscionable a partial stake, indispensable enactment much offers guardant successful the anticipation of concluding a deal.

It had been initially hoped the process being tally by the Raine Group would beryllium completed by the extremity of the season, but the further clip for caller bids means that is present improbable to happen.

Sheikh Jassim volition beryllium expected to taxable a caller bid to bargain 100% of the club, with Ratcliffe having followed a strategy of attempting to acquisition the Glazer family's 69% shareholding.

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