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Glazers are in exclusive talks to sell a minority stake in Manchester United to Apollo

Glazers are in exclusive talks to sell a minority stake in United to US private equity firm Apollo, with some family members wanting to leave amid fan reactions…but Joel and Avram REMAIN

  • The Glazers in exclusive talks to sell minority stake in Manchester United
  • US private equity firm Apollo is in talks and may attract other investors
  • While the Glazers won’t relinquish control, some family members want out
  • United’s share price on the New York Stock Exchange rose amid speculation

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The Glazer family has entered into exclusive talks with US investment firm Apollo to sell a minority stake in Manchester United.

While the Glazers are unwilling to relinquish control of the club – the brothers Avram and Joel are expected to keep their shares and oversee the day-to-day running of Old Trafford – other family members would like to leave.

It follows renewed criticism of the Glazers’ ownership as fans in protest threaten to boycott Monday’s home game against Liverpool – where United will try not to start the season with three consecutive defeats.

The Glazer family is in talks with Apollo to sell a minority stake in Manchester United

The Glazer family is in talks with Apollo to sell a minority stake in Manchester United

Brothers Avram (right) and Joel Glazer (left) are expected to keep their shares in the Red Devils

Brothers Avram (right) and Joel Glazer (left) are expected to keep their shares in the Red Devils

Brothers Avram (right) and Joel Glazer (left) are expected to keep their shares in the Red Devils

United’s share price rose sharply on the New York Stock Exchange on Wednesday, as speculation mounted that the Glazers could attract new investors or sell out entirely. The shares closed at $13.69 (£11.36), up 7.1 percent.

A deal to sell a minority stake to Apollo is expected to close next month at the earliest.

After the first purchase of shares in the Red Devils in 2003, the Glazer family became the majority shareholder of the club in 2005.

A spokesman for Sir Jim Ratcliffe claimed the 69-year-old would be open to buying United

A spokesman for Sir Jim Ratcliffe claimed the 69-year-old would be open to buying United

A spokesman for Sir Jim Ratcliffe claimed the 69-year-old would be open to buying United

Obviously, Apollo can attract other investors as part of a deal.

However, the consortium is not expected to include bidders who missed out on Chelsea’s recent sale, such as Britain’s richest man Sir Jim Ratcliffe.

A Ratcliffe spokesman claimed on Wednesday that the 69-year-old would be interested in buying United if the club were put up for sale.


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