Man Utd: Crystal Palace co-owner Josh Harris involved with private equity firm in talks to buy stake
Crystal Palace co-owner Josh Harris has an involvement in private equity firm Apollo, who are in exclusive talks to purchase a minority stake in Manchester United.
It remains to be seen whether the businessman’s links to the Selhurst Park club would breach English football’s laws on team ownership should Apollo’s attempts to strike a deal to buy shares in the Old Trafford club accelerate.
Sportsmail exclusively revealed on Wednesday night that the US company are in discussions with the Glazer family about securing a minority shareholding at United – although any deal to sell a stake to Apollo is not expected to be concluded until next month at the earliest.
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
Any such agreement would be forensically scrutinised by the relevant stakeholders – including the Premier League – with Harris’ attachment to Palace and Apollo likely to be examined.
The American tycoon holds a minority stake in Crystal Palace, believed to be around 18 percent, and is a director at the south London club.
Likewise, Harris co-founded Apollo and is currently listed on the company’s website as sitting on the board of directors and executive committee.
His profile on the company’s website reads: ‘Joshua Harris is a Co-Founder of Apollo, and a member of our board of directors and executive committee of our board of directors.’
Sportsmail revealed that the Glazers are in talks with Apollo to offload a small share in United
But Harris’ connection to Apollo could breach English football’s laws on team ownership
However, earlier this month Harris notified Apollo that he will not stand for re-election onto the company’s board at their next annual meeting of stockholders, meaning his term on the board should cease on October 7, this year.
Harris said: ‘I know Apollo is in great hands. I wish nothing but the best for the company and my many friends and colleagues at Apollo.
‘The company is incredibly well positioned, and I have full confidence in the Board’s and management’s stewardship of Apollo.’
Furthermore, it has also been reported that Harris started to cut ties to Apollo after losing a power struggle to run the company.
Harris is said to have dropped $6.6 million worth of shares in Apollo before disclosing in May 2021 that he was was relinquishing day-to-day responsibilities of the company.
However, he is reported to have maintained a significant stake in Apollo.
The Premier League has complex rules over who can hold shareholdings in two separate clubs and Harris’ level of involvement at Apollo is likely to be examined ahead of any potential acquisition of shares in United given his ties to Palace.
