Britain's richest man Sir Jim Ratcliffe submitted an official bid to buy Man United last week, joining Qatari banker Sheikh Jassim Bin Hamad Al Thani in the takeover race.
The Athletic now reveals some details of the 70-year-old's offer. It is a bid to buy 69% of the club — the entirety of shares owned by the Glazers. Al Thani wants to buy 100% of the club, including the 31% share owned by other stakeholders.
Ratcliffe's priority would be the development of Old Trafford and the club's training ground.
The Englishman's bid will not land United in more debt — Ratcliffe might take a loan to buy United but it will be his, or his company Ineos' loan, not United's. However, it's unclear whether Ratcliffe would be ready to wipe out the existing £656m debt; the Athletic say he is prepared to take it on.
The Athletic adds that Ratcliffe's ownership of Nice in Ligue 1 could be problematic as UEFA rules prohibit ownership of two clubs competing in the same European club competitions such as the Champions League.
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