The Ratcliffe bid made no formal statement about debt but, behind the scenes, it has provided assurances that no “fresh debt” (ie, any money borrowed to acquire United) will be landed onto the club’s balance sheet and will instead be borne by INEOS.
However, the Ratcliffe bid has not said it will wipe existing debt from United, which is, from a communications perspective, tricky to overcome. Debt has been regarded as a dirty word at Old Trafford due to the years of vast repayments that have leaked out of the club to serve the interests of the owners.
The Ratcliffe bid was also unable to clarify whether any interest owed on borrowings to acquire the club would be burdened upon United, although it would be highly unusual for another company to shell out on INEOS’ behalf.