- Developing a ‘new Old Trafford’ is high on Sir Jim Ratcliffe’s agenda
- Plans would see a huge ‘new Stretford End’ added to a 90,000 seat stadium
- CHRIS SUTTON: I wouldn’t get the flags at Man United yet – It all starts podcast
Sir Jim Ratcliffe and INEOS have already approached potential investment partners at home and abroad as they look to quickly rebuild or renovate Old Trafford.
In an extensive special report, ahead of expected confirmation next week of the petrochemical billionaire’s 25 percent stake in his boyhood club, Mail Sport can also reveal that an option to leave Old Trafford has already been dumped.
The group is leaning towards a rebuild on land next to United’s iconic home, hoping the project will be completed in five years or sooner.
A five-star United-themed hotel and attractions are being considered as part of a massive redevelopment. A 90,000 ‘new Old Trafford’ could also include a ‘new Stretford End’.
Tottenham’s sublime new mansion, along with its single-tier, 17,500-capacity ‘Kop’ style stand behind a goal, could well be recreated on a larger scale as part of a 90,000, state-of-the-art venue .
Sir Jim Ratcliffe wants to transform Manchester United’s Old Trafford home into the ‘Wembley of the North’ by completely rebuilding the stadium, which could cost more than £2 billion
The INEOS group is eyeing a rebuild on land next to United’s iconic home, hoping the project will be completed in five years or sooner
Wembley, in North London, has a capacity of 90,000 people and hosts many major football matches
Such a redevelopment would extend from Old Trafford to the waterfront, linking the area with MediaCity
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Insiders say INEOS is wasting no time as they look to transform the Premier League giants.
It has already been reported that discussions have taken place with local politicians regarding government involvement, including the Mayor of Greater Manchester, Andy Burnham.
What can also be revealed is that talks with the Football Association are likely to lead to some English matches being moved from Wembley to what would hopefully become a Wembley of the North at some point.
The view is that such a redevelopment, stretching from Old Trafford to the waterfront and linking the area to MediaCity, would take around five years.
Although nothing is certain, a five-star hotel and facilities for those traveling to United from around the world, who currently have a megastore and modest museum to keep them entertained on non-match days, is also highly likely.
INEOS has experience in finding finance for major infrastructure projects and is currently building a new £5 billion chemical plant in Antwerp, Belgium.
Funding would have to be agreed with the majority owners, the Glazers, who are believed to be keen to see INEOS take the lead.
Old Trafford currently has a capacity of 74,310 players, but United have long wanted to increase that
The decline of Old Trafford is a major source of fan resentment towards the Glazers
Any debt would have to be repaid and repaid, but would be a different prospect to the existing debt from the Glazers’ leveraged buyout as it would be repaid on a facility that would significantly increase the club’s revenues.
A direct cash payment at a football stadium is considered highly unlikely by government insiders. They point to the fact that other publicly funded stadiums often have a variety of uses and are or have been multi-sport venues and/or are part of a bid for a major sporting event.
For example, Manchester City’s Etihad Stadium was the centerpiece of Manchester’s successful participation in the 2002 Commonwealth Games.
Old Trafford was not selected as the venue for Great Britain and Ireland’s attempt to host the 2028 European Championship final.