Finnish businessman Thomas Zilliacus has announced his decision to withdraw his offer to buy Premier League club Manchester United from the Glazer family. The founder of social media organisation novaM Group, Zilliacus revealed that he would no longer be willing to participate in the bidding process after The Raine Group, overseeing the takeover on behalf of the Glazer family, requested a third round of bids.
I have decided not to participate in a third round,” the 69-year-old businessman publicly announced. “The bidding has turned into a farce in which the Glazers, at the expense of the club, focus purely on driving up the bid to the £6 billion they want for the club.”
Zilliacus is one of three bidders to make their involvement in the takeover rave public. He was joined by Qatari banker Sheikh Jassim and Ineos owner Sir Jim Ratcliffe. While ESPN has reported that five other bidders are also involved in the process, their identities have remained private.
Now, sources claim that the Glazers may even value Man Utd at more than £6 billion after the NFL team, the Washington Commanders, received takeover bids of more than £5.6 billion.
