More details are coming out now. It doesn’t look like it’ll affect SJR’s bid as much as initially thought as its been clarified that they are banning leveraged onto the club itself buy outs for clubs. Basically this means you can’t borrow the money to purchase all or part of the club then leverage that debt onto the club. Which is what the Glazers did. All the money they used to buy United 18 years ago was borrowed and they placed that debt on the club itself.
Sir Jim’s way around this is he isnt putting the debt on Man United itself, he’s putting it all on his INEOS company. If he can prove that any potential collapse of INEOS won’t negatively affect the ability to be the owner of Man United, then he’ll be able to bid. I don’t know how he can do that, but apparently he can. So who knows.
That’s how it looks anyway, its still early days so there might be more to this announced change.
