Finnish businessman withdraws as prospective buyer Manchester United

Finnish businessman Thomas Zilliacus is withdrawing as a prospective buyer of Manchester United. He is stepping down because the current and, in his view, “disrespectful” owners, the Glazer family, have opened a third round of bidding.

The founder and chairman of investment company Mobile FutureWorks made a bid for coach Erik ten Hag’s English soccer club last month. Zilliacus wanted to take over United with the help of the supporters and also give them a say in the decision-making process, but after the Glazers’ decision, the Finn is thus giving up.

“Jim Ratcliffe, Sheikh Jassim and I were all willing to negotiate a purchase agreement,” the Finn wrote on Twitter. “Instead, the Glazers chose to start a new round. I am not participating in this farce, which is designed to maximize the sellers’ profits at the expense of Manchester United.”

Manchester United has been owned by the Glazers since 2005. Supporters have long been calling for the departure of the American family, which some of the supporters believe would pursue misguided policies. The Glazers responded late last year. They announced then that they were considering a sale.

British billionaire Ratcliffe and his company Ineos soon came forward as a candidate buyer, followed by a consortium from Qatar led by Sheikh Jassim Bin Hamad Al Thani. They both already made two bids.