Owners of Premier League champions Manchester City have had discussions with the Shadwell Estate Company about purchasing part of the racing and breeding enterprise.
It is believed that City owner, Sheikh Mansour, the UAE's deputy prime minister and one of the Middle East's most powerful businessmen, made preliminary enquiries following the death of owner and founder Sheikh Hamdan Al Maktoum in March this year.
It was subsequently announced that Shadwell was to undertake "a full review of all its activities that will result in important changes for the business".
However, the discussions fell at the first hurdle, according to Chris Kennard, the UK director of Shadwell Estate Company Ltd.
He confirmed: "That is not happening. There was some interest and some discussions, but nothing came to fruition. There was a discussion but it did not lead anywhere.
"As is evidenced by our earlier announcement, we are undergoing a reorganisation and nothing is set in stone at the current time."
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The racing and breeding enterprise was established by Sheikh Hamdan in the 1980s, with the famous blue and white silks carried by greats of the Turf such as Nashwan, Salsabil, Dayjur and Battaash and Prix du Moulin hero Baaeed.
Although cutting back on operations, Sheikh Hamdan's daughter, Sheikha Hissa, is keen to remain involved in racing, and there are no plans to sell any of its stallions, which include top miler Mohaather, Muhaarar, Tasleet and Eqtidaar, who all reside at Nunnery Stud in Norfolk.