April 13 – Finnish entrepreneur Thomas Zilliacus (pictured) has pulled out of the bidding for Manchester United, saying the decision by current owners the Glazer family to go to a third round of bidding is a “farce”.
The 69-year-old said the Glazers were giving “no respect” to the club.
Zilliacus, Qatari banker Sheikh Jassim and Ineos owner Sir Jim Ratcliffe have publicly submitted second bids.
“The delays will make it very difficult for any new owner to build a winning team for next season,” Zilliacus said.
Writing on Twitter, he added: “The bidding is turning into a farce. Jim Ratcliffe, Sheikh Jassim and myself all were ready to negotiate a deal to buy United. Instead Glazers chose to start a new round.”
Whilst it is reported Sheikh Jassim and Ratcliffe have both tabled world-record offers of £5 billion, the Glazers are apparently holding out for £6 billion.
“I will not participate in a farce set up to maximize the profit for the sellers at the expense of Manchester United,” said Zilliacus.
Zilliacus, who has previously been involved with HJK Helsinki and ice hockey champions Jokerit in his homeland, is the founder and chairman of new social media organisation novaM Group.
He wanted to buy half of the club, with the other half purchased by the fans who would be part of major decision making.
The decision to go to a third round of bidding means potential purchasers, either of the whole club or just a partial stake, must put more offers forward in the hope of concluding a deal.
It had been initially hoped the process would be completed by the end of the season.
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