Hallows, 34, was injured when playing for Alty against Ashton in March 2005.
A United statement said the Unibond League Premier Division club are considering their next move but more legal appeals were bound to fail.
The horrific injury brought Hallows' promising career as a striker to a premature end and the former Bolton Wanderers forward thought his crowd-pleasing days were over.
The tackle in March 2005 left him with his shin bone pushed right through his skin with the player almost losing his life when his heart stopped in hospital.
However, he showed enormous courage to take up a new career: moving from floodlights to stage spotlights as a part-time Elvis impersonator, when not working as a salesman.
"I loved football and I was gutted when I couldn't play any more," said Marcus. "The injury left me devastated. It was the worst day of my life. I heard the crack and knew my career was over.
"But I get a real buzz from being Elvis. It doesn't hurt too much on stage and I can do all the leg-shaking moves.
"I do Elvis in his early Las Vegas era, around 1970.
"I had a couple of suits made, including the famous white one with chains and black leather tabs. I wear a black wig and fake sideburns and sing all the hits."
Marcus and his wife Emma have named their son Aaron after their hero's middle name.
"When I played football, I was sharing the spotlight with 21 others, but now it's just me," he said.
"Hopefully, I will soon be doing my act every weekend - but I'm not too sure if Emma would like that."
Source: BBC Sport
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