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Thomas Zilliacus: A Finnish Businessman Withdraws from Manchester United's Third Round of Bidding

Posted : 18 April 2023
Thomas Zilliacus, a Finnish businessman, has abandoned his offer to purchase Manchester United, calling the owners' plan to hold a third round of bidding "a farce."

The Glazer family received public second offers from Zilliacus, Qatari financier Sheikh Jassim, and Sir Jim Ratcliffe, owner of Ineos, but the auction has now moved on to a third round.

Zilliacus founded and serves as chairman of the novaM Group, a new social media company. He has also worked with the champion ice hockey team Jokerit and the HJK Helsinki.

Now that the selection process has reached the third round, the 69-year-old claims he has retracted his offer.

"The delays will make it very difficult for any new owner to build a winning team for next season," he said.
He wrote on Twitter: "The bidding is turning into a farce, with Glazers giving no respect to the club.

"Jim Ratcliffe, Sheikh 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 maximise the profit for the sellers at the expense of Manchester United."

Zilliacus stated last month that he planned to use XXI Century Capital, an investment business controlled by his holding company, to purchase a share in United.

According to him, the other half would be purchased by supporters who would participate in club decision-making.

Although further proposals are expected from Sheikh Jassim and Ratcliffe, it is unlikely that any buyout will be finalized before the conclusion of the 2022–23 Premier League season due to the additional time for new bids.

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