American hedge fund Apollo Global Management is not interested in buying a stake in the club that is currently last in the Premier League, Manchester United.
That’s what someone familiar with the situation told the American news agency Bloomberg. This person also dismissed reports that Apollo was in exclusive talks with the Glazer family about a purchase to one of the biggest football clubs in the world.
No acquisition intent
The American hedge fund is said to have been in financing talks with the consortium, but is no longer in discussions. Apollo’s intentions should never have been to buy directly into the club, writes Bloomberg.
Representatives for Apollo and Manchester United declined to comment on the matter.
When it was rumored that the Glazers could sell part of Manchester United to Apollo or another hedge fund, some support groups reacted. Many United fans are said to have been angry with the owners for what they believed was not enough to support coaching and group play.
According to Bloomberg, more than half of the Premier League’s 20 clubs are wholly or partly owned by Americans.
Manchester United have won the league 20 times – the most in England, but have to go back to 2013 for the last time they could lift the trophy.
Although Apollo has never publicly disclosed a direct stake in any football club, the hedge fund was involved in debt financing for Sporting Lisbon last year.
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