Apollo Global not interested in taking Manchester United stake - report

Aug. 21, 2022 7:31 AM ETManchester United plc (MANU), APOBy: Joshua Fineman, SA News Editor

Old Trafford Stadium, Manchester United Football Club

ChrisHepburn/iStock Unreleased via Getty Images

Apollo Global (NYSE:APO) is said to be not interested in acquiring a stake in Manchester United (NYSE:MANU) after reports on Wednesday that the firm was in talks about buying a stake in the world famous soccer club.

The private equity firm was in talks with a consortium, but is no longer in discussions, according to a Bloomberg report from Saturday. Apollo never wanted to buy straight equity in the soccer team. Other members of the consortium are said to still be in talks.

The Glazer family that owns Manchester United - one of the world's most successful clubs - isn't ready to cede control of the team but has held preliminary talks about bringing in a new investor, Bloomberg first reported on Wednesday.

Following the Bloomberg item on Wednesday, the Daily Mail reported that the Glazers had entered exclusive discussions with Apollo over the investment.

Man United is one of the world's most successful teams, but fan discontent with ownership has risen and protests have increased as the team hit harder times after the retirement of coach Sir Alex Ferguson in 2013.

Reports also linked one of Britain's richest men, Ineos Group founder Sir Jim Ratcliffe, to interest in a minority stake in the team or more. Tesla (TSLA) CEO and billionaire Elon Musk also joked during the week that he was buying the famed British soccer club.

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