A spokesperson for British businessman Sir Jim Ratcliffe told The Times he wants to buy a stake in Manchester United, with a view to full ownership.
This ‘dream news’ has been welcomely received by Manchester United fans. However, when have the Glazer family ever done anything United supporters wanted?
Even with a view to selling a stake, they march to the beat of their own drum, and The Mail report they could overlook Ratcliffe entirely.
The Mail report negotiations are ongoing with US investment firm Apollo, and a deal could even be reached next month, although not before.
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Apollo net worth
So who exactly are Apollo? The company’s full name is Apollo Global Management Inc, and was founded by Leon Black, who has since left the corporation.
The current CEO is billionaire Marc Rowan. Rowan’s own personal worth is approximately £3 billion, less than Sir Jim Ratcliffe – but the net worth of the Apollo group is huge.
The company manage more than £400 billion worth of assets, including TV stations, banks, cruise lines, and even Yahoo.
Stock Analysis reports the company itself is worth £29 billion, a large figure, in addition to the assets they manage.
The bad news
The Mail report Joel and Avram Glazer intend to stay in charge of Manchester United, and Apollo could purchase shares of less prominent family members who want out.
Apollo is a largely faceless investment group, and they would essentially end up propping up the Glazers, rather than displacing them.
There would be no personal connection, like United fans are hoping for with Ratcliffe, who was even born in Greater Manchester.
Manchester United fans need to keep the pressure on the Glazers to make owning the club as uncomfortable and untenable as possible.
Only a total sale would be satisfactory to supporters. There is no happy medium where Joel and Avram Glazer stay in charge of the club.
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