Zara founder Amancio Ortega reportedly has no interest in a Manchester United takeover despite links with the Old Trafford role.
The Glazer family - who have been in complete control of the 20-time English champions for 17 years - announced their desire to sell the club earlier this month.
The Americans' decision came in the wake of Cristiano Ronaldo's acrimonious exit, with the 37-year-old blasting the owners in a TalkTV interview with Piers Morgan.
Confirmation of Ronaldo's exit came just before the Glazers spoke of their decision to explore different "strategic" pathways, and numerous big names have since been linked with a bid.
A recent report claimed that 86-year-old Spanish billionaire Ortega - who is ranked as the 18th richest person in the world by Forbes - was interested in a potential takeover.
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Forbes estimates Ortega's net worth as a staggering $62.9bn (£52bn), while the Glazer family are thought to be looking for a fee of £8bn to sell the club.
However, Spanish outlet Cope claims to have contacted Ortega's holding company Pontegadea, which has emphatically denied the Zara founder's interest in buying Man United.
As a result, the Red Devils owners must look elsewhere for new investment into the club, 19 years after Malcolm Glazer's first stake was announced.
The Glazer family gradually increased their stake and assumed full control of Man United in the summer of 2005, having acquired 98% of the club and forced a squeeze-out of the remaining 2%.
The Americans' ownership has been met with constant criticism, though, and tensions boiled over when Man United tried to sign up for the failed European Super League project.
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Fans protested outside Old Trafford en masse prior to a Premier League fixture against Liverpool in May 2021, and some supporters managed to break onto the pitch.
The match was postponed as a result, and it was announced by Greater Manchester Police earlier this week that 39 people had been sentenced for their roles in the disorder.
Assault, burglary and criminal damage were all reported at the Theatre of Dreams, with one police officer requiring hospital treatment after sustaining a serious facial injury.
Britain's richest man Sir Jim Ratcliffe is believed to be weighing up a bid for Man United - whom he supports - while tech giants Apple are also supposedly interested in a takeover.
Saudi Arabia's Sports Minister has also said that the country's government will support any private sector bids for Man United or Liverpool, who have also been put up for sale by Fenway Sports Group.
