Finnish entrepreneur Thomas Zilliacus has revealed that he has withdrawn from the bidding process for Manchester United and is instead now looking at alternative options.
The 69-year-old first expressed an interest in purchasing the 20-time English champions earlier this year and insisted that he had the funds required to complete a takeover.
The founder of the Mobile FutureWorks Group was unhappy that the process entered a third round of bidding, though, branding the situation "highly unprofessional".
The former chairman of Finnish football club HJK Helsinki recently said that he would be interested in striking a deal with both Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al Thani, who are seen the favourites to complete a takeover.
"I don't see any reason why I can't work with Sir Jim and Sheikh Jassim," The Mirror quoted Zilliacus as saying at the time. "It makes perfect sense."
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However, neither Ratcliffe nor Sheikh Jassim were believed to be interested in the proposal, and talk of a potential purchase from Zilliacus has quietened in recent weeks.
The Finnish billionaire has now confirmed that he has officially withdrawn from the bidding process.
"XXI Century Football Capital believes the price of Manchester United has reached levels where investments no longer make sense," Zilliacus posted on Twitter. "We therefore have turned our attention to other clubs."
There have been suggestions that the businessman is interested in purchasing Inter Milan, although he has played down the reports linking him with the Italian giants.
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"Lately my name has been linked to Inter Milan. It is a great club with a fantastic history. The owner has however said the club is not for sale.
"Let's all respect that and support #Inter in tomorrow's final. I predict a narrow win for #nerazzurri."
Sheikh Jassim's latest offer for Man United, which is allegedly the fifth one that he has submitted, is believed to remain on the table despite the Glazers missing Friday's deadline.
Ratcliffe is still thought to be at the head of the queue for the Red Devils, although a preferred bidder for the 20-time English champions has not yet been named.
Paris Saint-Germain chairman Nasser Al-Khelaifi has reportedly had some involvement in the offer from Sheikh Jassim, with the Glazers allegedly recently holding a meeting with the 49-year-old.
