Club News: Apollo not interested in buying equity stake in Manchester United
According to financial journalist David Hellier via Twitter, who writes for Bloomberg, it is said that Apollo Global Management Inc. is not interested in buying a stake in Manchester United.
The Daily Mail had previously reported that the private equity firm was in exclusive talks with the Glazers family to buy a minority stake in the club. But now a person familiar with the situation has distanced the firm from such a report.
Fans have long called for a change in ownership at one of the world’s biggest sporting brand. The Glazer family has been accused of not putting in enough money on and off the pitch to compete with the likes of Manchester City, Liverpool and Chelsea.
Sir Jim Ratcliffe has also shown interest in buying the club from the current toxic owners. Considering how Ratcliffe has made his money over the years, it is very less likely that he will settle for a minority stake in the club. The businessman had previously attempted to buy a rival club, Chelsea.
Glazers are hardly a popular figure among the fans. The fans have chanted and put up banners- home and away, demanding the family sell the club to interested owners. But that has never bothered the owners. United are one of the biggest brand in the sports world, and as businessmen, the Glazers will likely milk out all they can before even considering selling.
More than half of the 20 Premier Leagues are owned in full or part by some US entity. The Glazers have owned the club since 2005 but have been an unpopular figure amongst the fans, especially in the last decade or so.
The club is currently in a very unfortunate situation on the pitch. New manager Erik ten Hag has struggled to implement his policy at the club and they have lost both their opening games. They sit at the bottom of the table, while also playing in the Europa League this season.
Fans and Ten Hag will hope that their side can get their first win this Monday. It will be no easy task though, as they play host to their rivals Liverpool.
More Manchester United News
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- Manchester United declined opportunity to sign Juventus midfielder Weston McKennie after Adrien Rabiot deal collapsed
As if our team’s on-field issues aren’t a concern, uncertainty around the club’s ownership wouldn’t help as well. Fans are already planning a protest ahead of the game at Old Trafford against the Reds tomorrow and it remains to be seen just how long the Glazers will continue to be at the helm.
Casemiro’s imminent arrival at the club shows that they aren’t afraid to spend. We also signed Cristiano Ronaldo, Jadon Sancho, and Raphael Varane last summer. However, their management tactics and boardroom calls have been at least a partial reason behind the club’s current status as a team struggling to make the top four.
