Sir Jim Ratcliffe ‘faces defeat in bid to secure public funding to transform Old Trafford’… after the Man United co-owner outlined his plan to transform the 74,000-seater stadium into a ‘Wembley of the North’
- Sir Jim Ratcliffe has spoken of plans to turn Old Trafford into a national stadium
- The billionaire said it is his “preference” to use taxpayer money for the project
- While Pep Guardiola is at Manchester City, it will be difficult for anyone to unseat them – Listen to the It all starts podcast
Sir Jim Ratcliffe is reportedly facing government rejection as the Manchester United co-owner seeks public funding for the redevelopment of Old Trafford.
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 this week confirmed plans to deliver a ‘national stadium in the north of England’, adding that his ‘preference’ is to use taxpayers’ money to fund the project.
Sir Jim Ratcliffe is reportedly facing defeat in his bid to secure public funding for Old Trafford
Ratcliffe has confirmed plans to deliver a ‘national stadium in the north of England’
“If it can be achieved (with taxpayers’ money), it would clearly be my preference,” Ratcliffe told the BBC.
‘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.
Ratcliffe is reportedly already facing defeat in his bid to secure public funding for the development of a stadium.
From The timesA government source has said that public investment will only be considered for renovation projects in the area, but not for the stadium.
Tracey Crouch, the former sports minister who wrote a review of football governance in 2021, highlighted how the Glazer family had ‘underinvested’ in Old Trafford while taking money out of the club.
Ratcliffe has admitted Old Trafford has become ‘tired and in need of renovation’
Old Trafford currently has a capacity of 74,310 players, but United have long wanted to increase that
Government investment would also prove controversial, with Everton said to have taken out significant loans to finance the construction of their £550 million stadium at Bramley-Moore Dock.
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.
‘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.”
