Apollo, a New York-based firm, are looking to buy a minority stake in the clubTalks with Apollo are focused on how much the Glazer family's shares are worth There are no immediate plans for fresh money to be pumped into the club 

Talks between the Glazers and the US firm looking to buy a slice of Manchester United are focused on how much money the family will get for their shares, with no immediate plans for fresh money to be pumped into the club.

The news will come as a blow to long-suffering fans hoping new investors might inject much-needed funds to revamp Old Trafford and the Carrington training ground, or provide a bigger transfer kitty.

Sportsmail exclusively revealed on Thursday that New York-based private equity group Apollo were in discussions with the Glazer family about taking a minority stake in United.

REVEALED: Talks between the Glazers and Apollo are focused on how much money the family will get for their Manchester United shares and NOT over any further investment in the club… dashing fans' hopes of a cash influx

REVEALED: Talks between the Glazers and Apollo are focused on how much money the family will get for their Manchester United shares and NOT over any further investment in the club… dashing fans' hopes of a cash influx

Elon Musk sent shockwaves through social media after tweeting ‘he’s buying Man United’

It followed frenzied speculation that Tesla founder Elon Musk and British billionaire industrialist Sir Jim Ratcliffe were both interested in buying the Red Devils.

Musk later tweeted that he had been joking, but Ratcliffe’s spokesperson said he would be interested if the club was for sale.

However, negotiations with Apollo are centred on how much four Glazer family members —Kevin, Bryan, Darcie and Edward Glazer — are willing to accept for their shares.

They want out, unlike their brothers, Joel and Avram Glazer, who have no intention of giving up overall ownership or day-to-day control of United.

The six siblings each own an equal number of shares in United and, crucially, they control 97 per cent of the voting equity between them. Some shares are also traded on the New York Stock Exchange but they have heavily diluted voting rights.

United’s share price rose sharply on news that a minority stake was up for grabs. Last night the shares closed in New York at $14, valuing the club at more than $2billion.

REVEALED: Talks between the Glazers and Apollo are focused on how much money the family will get for their Manchester United shares and NOT over any further investment in the club… dashing fans' hopes of a cash influx

It had been hoped that there would be a cash injection to help fund improvements on Old Trafford and Carrington

The talks with Apollo, which sources variously describe as ‘exclusive’ and ‘exploratory’, are expected to last at least until the transfer window closes on September 1.

Apollo may invite other investors to join them in a consortium to buy some of the Glazers’ shares. But any deal is unlikely to involve additional equity from new shareholders that could be used for investment in the club.

‘The Glazer family members who have had enough just want to take cash off the table,’ a source said. If a deal can be agreed, it would be the first time the Glazers have loosened their grip on United since they took control in 2005 in a controversial, debt-laden £790million deal.

REVEALED: Talks between the Glazers and Apollo are focused on how much money the family will get for their Manchester United shares and NOT over any further investment in the club… dashing fans' hopes of a cash influx

The club is enduring one of its toughest ever spells on and off the pitch with one of its stars, Cristiano Ronaldo, said to want to leave the club

With the shares split equally between the six family members — and four of them minded to sell — Joel and Avi Glazer could stay in control at United in a number of scenarios.

The four could sell some of their shares — in this case to Apollo — but retain enough so that the six Glazers retain overall control. Or the four Glazers could sell all of their shares, but offload enough to Joel and Avi for them to remain in charge.

In the latter scenario, Joel and Avi might have to borrow money — possibly from Apollo — to buy shares from their siblings.

The Glazers could, of course, just be testing the market to see how much their shares are worth. In other words, ‘no deal’ is also an option.

Minority investors, as Apollo would be in this case, have limited powers but they can exert some influence over owners.

REVEALED: Talks between the Glazers and Apollo are focused on how much money the family will get for their Manchester United shares and NOT over any further investment in the club… dashing fans' hopes of a cash influx

Crystal Palace co-owner Josh Harris (centre) has an involvement in Apollo, who are in exclusive talks to buy a minority stake in Manchester United

‘They can push for certain powers, such as the ability to sign off on major expenditure and boardroom seats,’ Adam Sommerfeld at sports advisory firm Certus Capital Partners told Bloomberg News.

‘Football is a very fluid game, so these investors can often develop strong dissenting voices when the team are not doing too well on the pitch.’

And that is certainly the case at United, who are bottom of the Premier League table having lost their first two games of the season to Brighton and Brentford under new manager Erik ten Hag.

REVEALED: Talks between the Glazers and Apollo are focused on how much money the family will get for their Manchester United shares and NOT over any further investment in the club… dashing fans' hopes of a cash influx

There are plans for anti Glazer protests at Monday night’s fixture against Liverpool at home

There are plans for anti-Glazer boycotts and protests at Monday night’s home game against arch rivals Liverpool.

United are also struggling to attract new players in this window now the team are no longer in the Champions League.

Apollo and United declined to comment.

'Its infuriating': ESA astronaut Thomas Pesquet releases Twitter tirade against conspiracy theorists who claim the six Apollo moon mission were fake, saying 'we're going BACK' with the Artemis mission

Mankind's giant leap as never seen before: 35,000 photographs from Nasa's original Apollo moon missions are unlocked from the freezer for the first time in fifty years and restored pixel by pixel to reveal real out-of-this world images of life in space

Bright Eyes at the Hammersmith Apollo review: a stonking return, despite a gentle wobbling

Baidu’s (BIDU) Apollo Go service strikes 1 million EV autonomous ride milestone in China

'Really cool' | Artemis I 'Moonikin' commander named after late JSC engineer instrumental during Apollo 13 mission

Apollo to Artemis: 11 Interesting Facts About NASA's Historic Moon Missions

OFFICELLT: Kevin Wright klar för grekiska Apollon Smyrnis

What does Artemis mean? Meaning of Nasa moon launch name explained and the Greek goddess’s link to Apollo

Dondurucu'dan çıkan Apollo fotoğrafları

Real Housewives Of Atlanta: Shereé Whitfield gets relationship advice from former inmate Apollo Nida

Artemis 1, NASA's first mission to the Moon since Apollo, set to take off tonight

NASA poised for Artemis moon rocket launch 50 years after Apollo: Here’s what to know

Glenn's legacy of testing spacecraft spans from Apollo to Artemis

Ξανά στο φεγγάρι μετά το Apollo: Αντίστροφη μέτρηση για την ιστορική εκτόξευση

How Nasa’s new Moon spaceship Orion compares with the Apollo spacecraft

PNB to sell NPA account Apollo Distilleries & Breweries

NEWS RELATED

Apollo App Adds 'Pixel Pals' to the iPhone 14 Pro Dynamic Island

Popular Reddit app Apollo was today updated with support for the iPhone 14 Pro and Pro Max, and Apollo developer Christian Selig decided to implement a fun little feature — a “tamagotchi” for the Dynamic Island. The app update adds a small little creature into the area above the Dynamic ...

View more: Apollo App Adds 'Pixel Pals' to the iPhone 14 Pro Dynamic Island

Veo Introduces The Apollo, An Urban Two-Seater Electric Bike

Veo Introduces The Apollo, An Urban Two-Seater Electric Bike The Chicago-based company has efficient micromobility in mind. Apart from actually buying your own e-bike, e-scooter, or any other LEV, you may have already tried using one of these urban mobility devices from a rideshare company such as Lime or ...

View more: Veo Introduces The Apollo, An Urban Two-Seater Electric Bike

Apollo Pro wants to be ‘the Cybertruck of scooters’

The folks at Apollo aren’t messing around when they say they aren’t cutting any corners in creating their new Apollo Pro scooter. The new electric scooter has all the bells and whistles. The $3,600 Pro will stand at the peak of the company’s current lineup of scooters, ranging from ...

View more: Apollo Pro wants to be ‘the Cybertruck of scooters’

Apollo Tramplr Range Of Tyres Introduced In India - 2 Variants

Apollo Tyres has recently introduced the Tramplr range of Enduro Off-road and Enduro Street tyres for the premium Indian motorcycle segment ranging from 150cc motorcycles to 500cc motorcycles. The newly introduced Apollo Tramplr range will cater to the various motorcycle segments such as Sport Touring, Adventure Touring, Cruisers and Street ...

View more: Apollo Tramplr Range Of Tyres Introduced In India - 2 Variants

Apollo’s app brings Reddit to your iOS 16 Lock Screen

A popular mobile app is bringing access to Reddit to the iPhone Lock Screen with iOS 16. The new version of the Apollo for Reddit iOS app has embraced the iOS 16 feature that allows third-party developers to build custom widgets that can appear on the phone’s Lock Screen, offering ...

View more: Apollo’s app brings Reddit to your iOS 16 Lock Screen

Pearl Jam 'travels' to Mars and beyond in cosmic Apollo Theater show (videos, photos)

The legendary rockers take "Gigaton" to Harlem's historic venue.

View more: Pearl Jam 'travels' to Mars and beyond in cosmic Apollo Theater show (videos, photos)

Kisah Arloji Omega Michael Collins, Astronot Apollo 11 yang Terlupakan

LIFESTYLE Kisah Arloji Omega Michael Collins, Astronot Apollo 11 yang Terlupakan Dibalut material emas 18 karat, jam tangan Omega Speedmaster milik astronot Michael Collins dijual 765.000 dollar AS atau setara Rp 11,3 miliar. September 12th, 7:05 PM September 12th, 7:05 PM Gading Perkasa Omega Speedmaster Professional ref BA145.022 milik astronot ...

View more: Kisah Arloji Omega Michael Collins, Astronot Apollo 11 yang Terlupakan

Top stock tips by Mitessh Thakkar, Sudarshan Sukhani: HDFC Bank, PVR, Apollo Hospitals and more

Indian equity benchmarks — BSE Sensex and NSE Nifty50 —  opened in green on Monday tracking gains across most other global markets. Top stock tips by Mitessh Thakkar, Sudarshan Sukhani: HDFC Bank, PVR, Apollo Hospitals and more CNBC-TV18’s in-house panel of experts has picked a list of stocks for investors to buy/sell in ...

View more: Top stock tips by Mitessh Thakkar, Sudarshan Sukhani: HDFC Bank, PVR, Apollo Hospitals and more

Vzorky půdy, které přivezlo Apollo z Měsíce, pocházejí ze Země, potvrdili vědci

Apollo 11 Goodwill Message Silicon Disc Includes Queen Elizabeth's Message

Insane ‘Carbon Dragon’ Apollo Evo Makes Rare Appearance

Sui Developer Mysten Labs Raises $300 Million to Address Web3 Scalability

Apollo Cleared to Lend $700 Million to Bankrupt Airline SAS in ‘Unusual’ Deal

Mond – Astronauten: Video zeigt umherstolpernde Astronauten von Apollo-Missionen

Queen Elizabeth's message to the Apollo 11 crew is etched on silicon disc left on the lunar surface: Praised mission as a 'salute to the skill and courage' of Neil Armstrong and other astronauts

Atty. Ferdinand Topacio, gustong gumawa ng biopic nina President Diosdado Macapagal, Apollo Aquiboloy, at Deniece Cornejo

Invulgar Apollo Project Evo mostra a voz e a garra em rara aparição pública

Apollo tilbake på Lanzarote for fullt

Nově zrestaurované fotky misí Apollo vyráží dech. První selfie ve vesmíru nikdy nevypadalo lépe

Pearl Jam's 'Gigaton' boldly goes to the Red Planet, has 'Apollo' exclusive on SiriusXM

OTHER NEWS

Breaking thailand news, thai news, thailand news Verified News Story Network