)
Finnish businessman Thomas Zilliacus has withdrawn from the race to buy Manchester United, describing the takeover process as a ‘farce’ as it moved to a third round of bidding.
There have been two leading bidders to buy the club from the Glazers, Qatari banker Sheikh Jassim bin Hamad al-Thani and British billionaire Sir Jim Ratcliffe.
)
Nonetheless, Thomas Zilliacus later made his interest public, although it is believed he was never perceived by the two other parties as a serious contender.
It was also announced that he planned to give a 50% stake in Manchester United to fan ownership. He communicated largely with the public via Twitter.
Zilliacus withdraws Manchester United bid
According to 90min, Raine Group, overseeing the potential takeover, invited bidders to submit third and final offers by the end of April. Mid-April is the deadline for due diligence, which leads directly to the third bid.
)
However, in recent developments, Zilliacus has taken to Twitter to announce his withdrawal from the entire bidding process.
“The bidding is turning into a farce, with Glazers giving no respect to the club,” he said.
“Jim Ratcliffe, Sheikh Jassim, and I all were ready to negotiate a deal to buy United. Instead, Glazers chose to start a new round.
"I will not participate in a farce set up to maximize the profit for the sellers at the expense of Manchester United.”
12:42 - 30.03.2023
CROSS FIRE: Who is a better player? Cesc Fabregas or Kevin De Bryune?
In this episode of Cross Fire, Tunde and Tosin argue who stands out between Cesc Fabregas and Kevin De Bruyne. Who's your money on?
More on Zilliacus
The Finnish businessman was once global head of Nokia's corporate communications before becoming CEO of Nokia SouthEast Asia and chairman of Nokia Malaysia.
Zilliacus also founded Mobile FutureWorks Group, YuuZoo, and Newkia.
Manchester United return to action in the Europa League, Thursday night against Sevilla.
Related content
)
17:29 - 12.04.2023
FOOTBALL Injury blow for Man United with Rashford to miss crucial games
The injury occurred during Saturday's 2-0 Premier League win over Everton at Old Trafford, and Rashford was substituted in the 80th minute, immediately heading to the dressing room for treatment.
)
19:45 - 12.04.2023
FOOTBALL Ten Hag confirms two more absentees ahead of Sevilla showdown
As the two remain sidelined, Casemiro can feature for the Red Devils.
)
23:57 - 09.04.2023
Manchester United target fuels speculation by refusing contact extension
The Brentford star will be out of contract in 2024 and has refused to sign a new deal hoping for a summer transfer this year
)
)
)
)
)
)
![[Video]: Timber show Arsenal fans what they have been missing with wonderstrike on his return](https://sportal365images.com/process/smp-images-production/ringier.africa/29112023/4916e71e-5abb-44f4-aad7-43171eb16585.jpg?operations=fit(600:))
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)