Crystal Palace co-owner Josh Harris has links with the American private equity firm Apollo

Crystal Palace co-owner Josh Harris has links with the American private equity firm Apollo, which is in exclusive talks to buy a stake in Manchester United

  • US private equity firm Apollo is in talks to acquire a small stake in Man United
  • As revealed by Sportsmail, the Glazers are prepared to offload a minority share
  • But any deal could be jeopardized by Crystal Palace co-owner Josh Harris
  • Harris has an involvement in Apollo, meaning it could breach ownership laws

Crystal Palace co-owner Josh Harris has links to Apollo, the private equity firm in exclusive talks to purchase a minority stake in Manchester United.

Harris’ involvement in the US investment firm may raise possible conflict of interest issues amid stringent rules on team ownership in English football.

Tonight a source close to the businessman told Sportsmail that Harris was no longer at Apollo, a company he co-founded in 1990.

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

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

However, reports have indicated that while Harris has stepped down from the day-to-day running of the investment firm, news confirmed on the company’s website in May 2021, he still retains a shareholding in the company.

Sportsmail has asked Apollo to clarify whether Harris still has a stake in the company.

The businessman’s apparent ties to Apollo have raised initial concern among rival Premier League club executives yesterday after Sportsmail exclusively revealed the US company is in discussions with the Glazer family about securing a minority shareholding at United.

Any such agreement would be forensically scrutinized by the relevant stakeholders – including the Premier League – with Harris’ attachment to Palace ties to Apollo likely to be examined.

Sportsmail revealed that the Glazers are in talks with Apollo to offload a small share in United

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

But Harris’ connection to Apollo could breach English football’s laws on team ownership

The American tycoon holds a minority stake in 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.’

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 with Apollo after losing a power struggle to run the company.

After relinquishing day-to-day responsibilities of the company in 2021 he also dropped 6.6 million shares. However, he is reported to have maintained a significant stake in Apollo, which could complicate any share buy-out at United.

The Premier League has complex rules over who can own 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.

Harris and his business partner David Blitzer – who is also a Palace shareholder – were understood to be heavily involved in one of the failed consortiums that tried to purchase Chelsea earlier this year.

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