Manchester United co-owner Sir Jim Ratcliffe is reportedly willing to set up a new stadium for Manchester United. The plan for a brand-new venue is to create a ‘Wembley of the North’ for Manchester United to rival the 90,000-seater national stadium in the north London region.
As per a report in The Telegraph, Ratcliffe, founder of the INEOS group, is acquiring a 25 percent stake in Manchester United for a reported fee of £1.2 billion.
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However, in a major blow to the ambitious plan, it is now being reported that Britain’s second richest man may not get a green signal to build a £2 billion Government-funded venue.
A report published by The Sun claims that Manchester United and INEOS will have to make a convincing case to get a major public investment which would have to be a scheme that represents a lot more than just a new ground for the Red Devils.
The publication added that Ratcliffe is planning to seek help from local and national government funds to carry out the plans for the venue.
The report suggests that all four current tranches of the Government’s Levelling Up fund have been allocated but at the same time, money could still be available through other financial measurements. No approach has yet been made to the Government regarding this matter but Ratcliffe is understood to have had discussions with Greater Manchester Mayor Andy Burnham.
Manchester United Supporters Trust (MUST) feels that building a new stadium could showcase the club’s revival in the future.
“Nothing would symbolise the renaissance of United more vividly than a truly world-class stadium, which could compare with our greatest rivals domestically and in Europe. Many United fans have looked at what Real Madrid have done and that level should be the benchmark. There is a feeling we’ve fallen behind not just on the pitch but in terms of the stadium and other facilities too. Having really ambitious people with a track record of major infrastructure development inspires fresh hope,” The Sun quoted MUST chief Duncan Drasdo as saying.
It was reported that expanding Old Trafford, the iconic home venue for Manchester United, would very well cost the English giants around £800 million. Meanwhile, a new ground would cost them around £1.5 billion to £2 billion.
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