03 March 2023 , 13:42
1155
0
Sir Jim Ratcliffe is refusing to match Sheikh Jassim bin Hamad Al Thani 's promise to wipe the debt from Manchester United 's accounts.
The duo are the only two known bidders seeking a full takeover of the Red Devils, with the Glazers seeking either a full sale or investment in the club. There is little between the bids in terms of price, with both believed to have offered in the region of £4.5billion.
But one key advantage that Al Thani holds over English billionaire Ratcliffe is that he is promising to make his takeover debt-free. The Qatari is also pledging to wipe the debt accrued by the Glazers from the Red Devils accounts.
Estimates put United's debt in the region of £1billion, so to wipe it would be a huge undertaking. That is something Ratcliffe is not prepared to match according to The Athletic, via the BBC's How To Buy A Football Club podcast.
It is said to be 'impossible' for Ratcliffe to match Al Thani's promise to wipe the debt. That is despite the Englishman having a personal fortune in the region of £6bn, thanks in large part to his owning of chemical giant Ineos.
Marcel Sabitzer completes Man Utd transfer after last-minute deadline day dash
When he announced his bid to buy the club, Ratcliffe promised to 'put the Manchester back into Manchester United' and turn the club's focus onto winning the Champions League.
HAVE YOUR SAY! Who do you want to take over Manchester United? Comment below.
Sheikh Jassim bin Hamad Al Thani has pledged to wipe Manchester United's debt"Sir Jim Ratcliffe and INEOS have submitted a bid for majority ownership of Manchester United Football Club. We would see our role as the long-term custodians of Manchester United on behalf of the fans and the wider community," a statement read.
"We are ambitious and highly competitive and would want to invest in Manchester United to make them the number one club in the world once again. We also recognise that football governance in this country is at a crossroads.
"We would want to help lead this next chapter, deepening the culture of English football by making the club a beacon for a modern, progressive, fan-centred approach to ownership.
"We want a Manchester United anchored in its proud history and roots in the North-West of England, putting the Manchester back into Manchester United and clearly focusing on winning the Champions League."
Al Thani meanwhile is putting making United debt free at the heart of his bid to buy the club. And he pledged to invest heavily in the team, stadium and wider infrastructure.
"The bid plans to return the Club to its former glories both on and off the pitch, and – above all – will seek to place the fans at the heart of Manchester United Football Club once more," a statement from his consortium read.
Al Thani's promise is not something Sir Jim Ratcliffe is willing to match (AFP via Getty Images)"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. More details of the bid will be released, when appropriate, if and when the bid process develops."
Man Utd deadline day live updates as Sabitzer completes loan move
The Glazers are also said to be in talks with Elliott Management over the prospect of selling a minority stake in the club which would include receiving funds to help invest in the development of Old Trafford.