Prospective Manchester United buyer Thomas Zilliacus has announced that he has withdrawn his bid to take over the club in a scathing set of social media posts.
Zilliacus announced last month that he had launched an ambitious bid to purchase half of the club, with the other half being bought by another company, set up specially for the takeover, in which fans would contribute.
The Finnish businessman, who was the chairman of local side HJK when they recorded a European Cup victory over Liverpool in the 1980s, was seen as a major outsider in the race.
Journalist Ben Jacobs claimed that Zilliacus' offer was 'dismiss[ed]' by insiders, and that the Finn called fellow prospective buyers Sheikh Jassim and Sir Jim Ratcliffe/Ineos, asking them to 'join forces'.
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Now, Zilliacus has confirmed that he will not be taking any further part in the takeover process.
Man Utd bidder 'pulls out of takeover race'
Posting on Twitter, Zilliacus lashed out at the Glazers, claiming they have 'given no respect' to the club by inviting a third round of bids.
He wrote: "I have declined participation in a third bidding round for United. The bidding is turning into a farce, with Glazers giving no respect to the club.
"The delays will make it very difficult for any owner to build a winning team for next season. 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.
"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."
Meanwhile, the Daily Mail's Mike Keegan claims that movement in the United sale process is expected this week - although reports that there are concerns that any sale may not occur prior to the summer transfer window.
Topics: Premier League, Manchester United
Ryan Smart