"Several things happened (or didn’t happen) that gave cause for concern. Our being made aware that DIC had devised a 7-year exit strategy was one such issue, along with a suggestion they intended to raise £300 million in working capital (i.e debt), secured against the club........ Gillett and Hicks produced a very substantial offer document containing all the key assurances re debt, ... "
One offer contained debt and so did the other. So, the difference was ... ?
If you don't know all the facts in a situation, you just have to look very carefully at what someone says, and if there is one inconsistency in it, then in all likelihood the whole lot is bollox.