Sir Jim Ratcliffe admits Old Trafford is ‘TIRED and in need of refurbishment’… as the new Man United part-owner outlines his plan to transform the decaying 74,000-seater stadium into a ‘Wembley of the North’

New Manchester United co-owner Sir Jim Ratcliffe admitted on Wednesday that Old Trafford has become ‘tired and in need of renovation’ as he set out his desire to create a national stadium in the north of England.

Ratcliffe officially became co-owner on Tuesday after INEOS’ 27.7 percent investment in Manchester United was confirmed by the club, with the British billionaire taking over the football operations as part of the deal.

Earlier this month, Mail Sport revealed Ratcliffe’s £2 billion plan to turn Old Trafford into a ‘Wembley of the North’, aiming to create an iconic venue to rival England’s 90,000-capacity national stadium in London spectators.

Renovating the existing 74,000-seat stadium, which opened in 1910, would likely prove to be a short-term measure and would cost around £800 million. Meanwhile, a new build could cost anywhere between £1 billion and £2 billion.

Ratcliffe confirmed his plan Wednesday during his first broadcast interview since becoming co-owner BBC: ‘It’s time someone built a national stadium in the north of England.’

The British billionaire wants to transform the home of Manchester United into the ‘Wembley of the North’ by completely rebuilding the stadium, which could cost more than £2 billion.

Old Trafford currently has a capacity of 74,310 players, but United have long wanted to increase that

Ratcliffe (left) believes manager Erik ten Hag (centre) should not report directly to the CEO, calling the structure ‘outdated’ in a scathing assessment of his new club

The billionaire added that his ‘preference’ is to use taxpayers’ money to fund the project, describing the new stadium as a catalyst for regeneration in south Manchester.

“If it can be accomplished (with taxpayer dollars), that would clearly be my preference,” he said. ‘I would be very excited about the north of England. Trafford Park is where the Industrial Revolution began. If you look at that area of ​​Manchester today – just a mile from the center – it is tired and neglected and parts are quite run down.

“There’s a pretty big case, in my opinion, for revitalizing that whole south side of Manchester. At its heart would be the construction of a new, state-of-the-art, world-class stadium, which could host England matches, the FA Cup final and the Champions League finals. It could serve the north of England.

‘There is a prejudice in Britain when it comes to where the national stadiums are built; they are all in the south. There is a lot of talk about leveling. HS2 has been canceled and it’s all going to be spent on the London rail network. The people in the north pay their taxes just like the people in the south.

‘Why shouldn’t there be a venue in the north of England where England can play? Why does everyone in the north have to go south for the FA Cup semi-finals?’

In a separate interview, Ratcliffe told the club website: ‘I mean, it’s an impressive stadium and it’s the biggest Premier League stadium in the country – the second biggest stadium in the country, after Wembley, I think.

Manchester United’s new structural hierarchy under co-owners Joel Glazer and Ratcliffe

Omar Berrada has been brought in from Manchester City to take on the role of CEO

The United unit owner said it was ‘absurd’ to put Dan Ashworth on gardening leave.

‘But it’s not quite the level you would expect from Manchester United today and it has fallen behind. Maybe 20 years ago it was that way (on the standard), but today it has fallen behind.

“We have to look at the way forward for the stadium, the redevelopment of that stadium, and that there are clearly two paths that we can take: we can refurbish the existing stadium or we can look at building a new stadium. And that’s what we’re looking at right now.”

Ratcliffe also criticized Manchester United’s ‘outdated’ structure and claimed a culture was ‘missing’ as he unveiled his plans to revolutionize world football’s former juggernaut.

He and INEOS have already made it clear that major structural changes will be implemented behind the scenes.

Omar Berrada will take over as CEO after being poached from rivals Manchester City, while talks are underway to bring in Newcastle United’s Dan Ashworth as sporting director.

Newcastle confirmed this week that Ashworth has been placed on gardening leave as the two clubs negotiate compensation payments – a decision Ratcliffe condemned as ‘absurd’.

Finally, the new co-owner hinted that Mason Greenwood may still have a future at Manchester United, despite the club loaning him to LaLiga team Getafe.

The England striker was suspended in January 2022 after he was arrested on suspicion of raping and assaulting a woman.

Although the charges were dropped, it was believed Greenwood would not play for United again after the club launched an investigation into his conduct and subsequently loaned him to Spain.

“It’s a new decision,” Ratcliffe said.

Ratcliffe also hinted that Mason Greenwood (above) may have a future at Manchester United

‘I can talk about the principle. I’m not going to talk about Mason. I am familiar with it. The principle is the most important. We will have other problems in the future.

‘You are dealing with young people who have not always been raised in the best circumstances, who have a lot of money and do not always receive the guidance they should have.

‘When we have such problems, we need to understand that there are real consequences and not the hype. Then we have to make a fair decision in the light of the club’s values. That’s what we have to do and that’s how we deal with it.’