Thomas Zilliacus has seemingly withdrawn from the Manchester United takeover process, labelling the Glazers' decision to open a third round of bidding a 'farce'.
Zilliacus entered the picture during the second phase with a bid which would allow United fans to own 50 per cent of the club via a small fee. The Finnish businessman had also mooted the idea of combining with the two major parties, Sir Jim Ratcliffe and Sheikh Jassim bin Hamad al-Thani.
But he has now backed out of the process after the Raine Group, acting on behalf of the Glazer family, opened a third round of bidding on Tuesday, with a deadline of April 28. The decision has been met with widespread criticism, Zilliacus himself pleading for a swift resolution to the process.
