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Sir Jim Ratcliffe has plans for Manchester United to create the “Wembley of the North” by redeveloping Old Trafford.
The INEOS billionare is expected to soon complete a 25% partial takeover at the Theatre of Dreams, after agreeing terms with clubs owners, the Glazer family.
With investment comes ambition, and the 71-year-old believes he could even pull on the UK Government to help given their “levelling up” aims. Expected to pump some £237m into the footballing side of operations as early as this summer, Ratcliffe has not shied away from the problems facing United at present.
With their persistent claims the Red Devils’ Old Trafford ground is falling behind Premier League competitors, sources close to the Failsworth-born United fan have revealed his lofty desires.
“He feels the club needs an absolute state-of-the-art, knock-it-out-of-the-park, ‘wow’ stadium,” one told the Telegraph recently.
“And we feel there’s a strong argument for the country having a top-class major venue in the North – a Wembley of the North.”
Plans had been drawn up for United to move to a new location given the infrastructure problems they face, but this is something sources believe would not be viable.
“The spiritual home is important,” another said. “We think the fans would be quite happy to accept a brand new stadium if we stay where we are.”
It is estimated that expanding the current 74,000-capacity stadium could cost at least £800 million and potentially more while a new ground could be in the region of £1.5 billion to £2 billion.
Conversations have already begun with Andy Burnham, the Mayor of Greater Manchester, Trafford Council leaders and other civic officials around potential development opportunities.
Financing options have been explored and much can be drawn from Tottenham Hotspur’s recent move from White Hart Lane.
“It shouldn’t be a burden on the club because a new stadium should be paying for itself effectively,” sources said.
“If you’ve got a new 90,000 stadium you’ve got 20,000 new people paying for that stadium.”
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