Manchester United‘s share price slumped after news regarding the sale of the club.
With investors learning that the Qatari royal family had pulled out of the bidding process, share prices went down immediately. The club’s share price dropped by up to 22 percent in pre-market trading on the New York Stock Exchange, before paring losses.
INEOS chief Sir Jim Ratcliffe is on the verge of buying 25 percent of the club from the Glazer family.
However, the club’s American owners will remain in charge for the foreseeable future.
Ratcliffe is demanding sporting control over United in his bid to bring the club back to its former glories.
Sheikh Jassim was hoping to buy 100 percent of United, which was a more appealing deal for general investors.