Glazers have put Manchester United up for sale, Thomas Zilliacus withdraws the bid

Thomas Zilliacus announces withdrawal from bidding process to buy Manchester United from the Glazer Family. Sheik Jassim & Jim Ratcliffe are in race.

Thomas Zilliacus is currently the Chairman of novaM Group, a social media organisation. He was previously with HJK Helsinki and Jokerit. A question arises as to why the Finnish entrepreneur has become the centre of attention in sports, especially football. Apparently, Zilliacus has unknowingly started an unprecedented downfall for Manchester United. Once the ruling football club, it is now up for sale, and the credit for this goes to the Glazers. They bought the club in 2005 for £790 million, and reports now claim that the Glazers are looking for a new owner of Manchester United.

Zilliacus was one of the top contenders, or rather one of the top bidders, in buying Manchester United. He has now withdrawn his bid after the Glazers decided to move on to the third bidding round. Calling the bidding process a farce, Zilliacus has stated that they were ready to negotiate the deal until the current owners took a call to enter into the third round of bidding.

It has opened doors for others to put forward better proposals; however, the Finnish businessman is not happy about it. Hence, a decision to withdraw the bid. Withdrawals are usually a part of the bidding process. This one, in particular, will likely hurt the football club, meaning a new team will take time to build.

Building a team is essential, and it has to happen on time to allow players to draw a rhythm among themselves. It further gives them sufficient time to practice. A withdrawal by Thomas comes as a shock and a big chance that the transition could be messed up. Obviously, that requires someone to buy the club first, but when bought – if bought – the team will be left with little time to come together.

There is speculation that the Glazers are taking their sweet time through the third round with the intention of pocketing profits. The purchase value has reached approximately £5 billion and £6 billion. The margin between the original purchase price and the current purchase price is indeed huge. Turns out, it is worth it, provided the new owner can turn things around for the team.

Farce to maximise the profit, said Thomas in his statement wherein he thoroughly refused to move forward with the bidding process. Per his other statement, it was not just him ready to negotiate a handsome deal with the Glazers. He was joined by Sheik Jassim and Jim Ratcliffe to buy the club. The last announcement by him, made in public, saw him clarify that he would only own 50% of the club, with the remaining portion being bought by the fans, giving them a chance to participate in the decision-making process.

Interesting, but not for everyone looking to buy a 100% stake in Manchester United. Including fans is an idea that drives sentiments, adding value to their fanhood while also building a community around the football club. However, as a popular and successful football club, Manchester United is often featured on the best crypto sports betting sites, offering punters bet with best football odds.

While Thomas has withdrawn the bid, reports claim that Sheikh and Ratcliffe are moving forward to the third round. Both are expected to bid for 100% and 69% of the stake. Zilliacus, had he decided to move forward to the third round, would have chosen to acquire the team via XXI Century Capital. That is an investment firm that is owned by his holding company. Meaning, he would have had the team to his name anyway.

The Glazer Family, the American owners of the team, put the team for sale in 2023 and began receiving bids in February-March 2023. Manchester United ranks 4th in terms of being a rich football team across the globe, as stated in a report published by Deloitte.

A total of eight participants were said to be bidding for the team. It later came down to Thomas Zilliacus, Sheik Jassim, and Jim Ratcliffe.

Manchester United ranks 4th in the list of Premier League for the 2022-2023 season. The team follows Arsenal, Man City, and Newcastle. It last played the Quarter-Final Leg 1 of 2 in the Europa League against Sevilla. It ended in a 2-2 draw when Harry scored the second for Sevilla in extra time. That was an own goal; dramatically, that was not the only, with Tyrell Malacia scoring the first one in the 84th minute.

Marcel Sabitzer brought a double for the side in the first half. They will next play the second leg on April 21, 2023, against the same team. Circling back to ManU getting acquired by a new top bidder, Thomas Zilliacus came out on Twitter to break the news that he will not be moving forward in a farce that has been set up to maximise the profit at the expense of the football club.

Justified, but some fans believe he has withdrawn from the bidding process for the lack of funds. One of them has called him another Michael Knighton, adding that he can now let serious bidders continue bidding to buy the team.

A little reference here, Michael Knighton is a 71-year-old businessman who attempted to rid Manchester United of the grips of the Glazer Family last year. This was the second time he tried to buy the club. The first attempt came in 1989; needless to say, he failed both times.

Another user has said upfront that the two big players told him to do one. Unsure of the meaning, it appears the user meant to say that he was sidelined by the bids tabled by Sheik Jassim and Jim Ratcliffe. What happened behind the doors during the bidding process is better left to one’s imagination. It is, for now, clear that Sheik Jassim and Jim Ratcliffe are in the race to purchase Manchester United leaving Thomas Zilliacus behind. The statement by Zilliacus that a delay in the purchase is likely to hamper the team-building process could come true, though.

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