As an FYI, a guy I work with bought a '72 'BGT today for $1200. It looks about the same as this one, but it runs and drives and has new MCs on the clutch and brakes.
I bought my '74 'BGT for $500. It also looks about the same, but it needed a new gas tank and tires.
I'd offer $500 for this car. If I actually wanted it, I might pay $750. I would fix it and sell it for $2000 OBO. I've been building MGs for over 25 years and while the car has a lot going for it, I'd be surprised if it sold for $2K in the current state. The person that would buy it in this condition would either have no idea what they're in for or someone experienced that would need to buy it cheap in order to have room for the repairs.
Your best bet is to fix it.


Good luck tho!