Finnish businessman Thomas Zilliacus has dropped out of the bidding for Manchester United, saying delays in the sale process will make it difficult for a new owner to build a winning team.
United's American owners, the Glazer family, launched a formal sale process late last year, with several bids received in February and March.
"I have declined participation in a third bidding round for United," Zilliacus said on social media. The delays will make it very difficult for any new owner to build a winning team for next season."
"Jim Ratcliffe, Sheik Jassim and myself 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.
"I hope whoever buys United understands how to engage fans. For another top football club my company has built services that bring in $400 USD per year per participating fan. United's total revenue in 2022 was $709 million USD. That can be doubled."
Sports industry news site Sportico reported this week that Manchester United would accept a third round of bids from prospective buyers at the end of the month.
United are the fourth-richest football club in the world, according to Deloitte.
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