Qatari banker, Sheikh Jassim Bin Hamad Al Thani on Saturday, ended his bid to buy Manchester United, according to the BBC.
Sheikh Jassim and British billionaire Jim Ratcliffe were the front runners after several rounds of bidding earlier this year.
However, the process has stalled in recent months despite the anger of supporters towards current owners, the Glazer family.
The Americans have owned the English giants since a leveraged takeover in 2005 for £790 million ($961 million) saddled the club with huge debts.
Figures in March showed United’s debts have grown to £970 million.
However, the Glazers are believed to be holding out for a world record fee for a football club in excess of £6 billion.
Sheikh Jassim’s bid was for full control of United and promised to clear the club’s debt.
By contrast, Ratcliffe is reportedly willing to buy a smaller stake to break the impasse ownership of the 20-time English champions.