The Glazer family have reportedly begun exclusive talks with US private equity firm Apollo to sell a minority stake in Manchester United - despite Sir Jim Ratcliffe declaring his interest in buying the club.
Having ruled over Old Trafford since their controversial takeover was completed in 2005, Glazer brothers Avram and Joel still aren't yet ready to cede full control of the club but are open to selling a minority stake. According to a report from the Mail, who claim that some members of the Glazer family now want out, Apollo are in discussions to purchase a stake in the club and could bring in other investors in due course.
It's added that any deal isn't expected to be concluded until next month at the earliest, while the brothers are expected to keep hold of their shares and oversee the day-to-day operations at Old Trafford. The news follows renewed and sharp criticism of the Glazers' ownership after the Red Devils suffered back-to-back defeats to begin their Premier League campaign with a whimper.
Supporters have threatened to boycott next Monday's home match against old foes Liverpool in protest. Ahead of their opening-day clash with Brighton & Hove Albion 10 days ago, hundreds of fans marched from Media City to Old Trafford chanting anti-Glazer songs and holding up messages such as "we want out club back" on huge banners. But those frustrated supporters were given hope on Wednesday by Ratcliffe who's considered to be Britain's richest man.
The boyhood United fan and founder of chemical group Ineos declared his interest in buying the club after fellow billionaire Elon Musk joked about doing so in an irreverent tweet. "If the club is for sale, Jim is definitely a potential buyer," Ratcliffe's spokesperson told the Times. "If something like this was possible, we would be interested in talking with a view to long-term ownership."
Ratcliffe grew up supporting the club and is involved in football, having notably failed in his late attempt to buy rivals Chelsea earlier this year, as Todd Boehly's £4.25billion consortium won the race. The Lancashire-born mogul already owns French side Nice, Swiss club Lausanne-Sport and the Ineos Grenadiers cycling team, while Ineos also has a partnership with Formula 1 team Mercedes.
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"This is not about the money that has been spent or not spent," his spokesperson added. "Jim is looking at what can be done now and, knowing how important the club is to the city, it feels like the time is right for a reset."
The comments followed a story from Bloomberg which first revealed that the Glazers are considering selling a stake amid the unrelenting backlash of recent weeks. As the Red Devils fan base went into a frenzy, United's share price on the New York Stock Exchange rose sharply. The shares closed at $13.69 (£11.36) on Wednesday, an increase of 7.1 per cent.
However, it'd take a lot more than that for the Glazers to hand over the club, with a cool £6bn the mooted price tag.
