Sale talks around a stake in soccer club Manchester United (MANU) hit a new phase, with a report that the owning Glazer family has entered talks with Apollo Global Management (APO) over buying a minority stake in the team.
The Glazers have entered exclusive discussions with Apollo over the investment, the Daily Mail reported, adding that any such deal wouldn't be wrapped up until next month at the earliest. MANU rose 6% Wednesday amid reports that one of Britain's richest men is interested in a piece of the club action.
Billionaire Sir Jim Ratcliffe, founder of Ineos Group, is "definitely a potential buyer," a spokesman says according to The Times of London. The under-fire ownership of the team is reportedly open to a minority investment, though it's not ready to cede control of the team. The Glazers have faced growing fan protests over their ownership and there are calls for fans to boycott the next home game.
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