Sir Jim Ratcliffe is reportedly not willing to clear Manchester United’s debt as part of his ownership bid as the club’s takeover saga takes another twist. Qatari bidder Sheikh Jassim Bin Hamad Al Thani, on the other hand, has been vocal about how he is willing to do so which may put him in a strong position.
In his statement, the chairman of the Qatar bank QIB said: “The bid will be completely debt free via Sheikh Jassim’s Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the club supports.
“The vision of the bid is for Manchester United Football Club to be renowned for footballing excellence, and regarded as the greatest football club in the world.”
The stance on clearing the debt could prove attractive to the Glazer family, with the club’s net debt standing at £656million. Though it is reported that the club could be considered ‘debt free’ with an investment of £580m.
According to The Athletic’s Adam Crafton, Ratcliffe is not capable of matching Sheikh Jassim’s stance on clearing the debt, which could hand the Qatari an advantage in the race to acquire the club. INEOS, owned by Ratcliffe, did not address the debt in their statement confirming their bid, instead insisting that they would be ‘long-term custodians of Manchester United’ and would invest to make the club the European threat that they once were.
It remains to be seen whether the debt is a major factor in the eyes of the Glazers, with meetings scheduled with both bidders over the coming weeks, according to The Guardian.
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