SUMMARY
- Manchester United has been based at Old Trafford since 1910, witnessing successful periods under legendary managers like Sir Matt Busby and Sir Alex Ferguson.
- The English club has entered Sir Jim Ratcliffe's era with his purchase of a 25% stake. The richest man in Britain has vowed to change the club for the better.
Old Trafford has been the home of Manchester United since 1910. The iconic stadium has seen some of the most successful eras of the English club, from Sir Matt Busby to Sir Alex Ferguson. It currently has the largest capacity in the Premier League with a seating capacity of 74,310 but might be demolished to make way for a newer venue.
Sir Jim Ratcliffe’s era is underway as the British billionaire bought the 25% stake in the English club. The richest man in Britain has vowed to change the club for the better. Apart from the on-field performances, one of the biggest concerns for the fans has been Old Trafford. The iconic stadium has required upgrades and renovation for almost a decade but the Glazers family has yet to take a step.
At present, three viable options are being discussed: a small makeover of the stadium, complete redevelopment, or construction of an entire new stadium. Chris Lee, the chief executive of Populous, the architects overseeing the redevelopment, has commented on the third option.
🚨🚨🌕| BREAKING: Sir Jim Ratcliffe has been told to demolish Old Trafford and build a new stadium. [@TeleFootball]
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— centredevils. (@centredevils) December 26, 2023
Lee talked to The Telegraph about the potential costs of $2.5 billion for the reconstruction: “Yes, the initial outlay is obviously the highest of the three options but there is so much land available to develop there. They [United] could carry on using the existing ground while building work is underway, meaning no decline in matchday revenues.”
Lee addressed the issue by stating that something has to be done because The building is reaching the end of its natural life. This isn’t the first time that fans and experts have shown concern about Old Trafford, but this time around there is hope in the air regarding the issue with the arrival of Sir Jim Ratcliffe.
Sir Jim Ratcliffe’s investment in Old Trafford
The INEOS group along with Sir Jim Ratcliffe has invested $1.27 billion to acquire the 25% stake in the club. As part of the deal, the billionaire will invest $300 million more into the club to improve the infrastructure of the stadium.
As per earlier reports, this $300 million investment will be received in two installments. $200 million will be received at the time of the transaction of the 25% stake, while the remaining $100 million will be received by the end of 2024.
Manchester United reaches agreement for Sir Jim Ratcliffe, Chairman of INEOS, to acquire up to a 25% shareholding in the Company.#MUFC
— Manchester United (@ManUtd) December 24, 2023
The initial investment was expected to cover the small makeover of the Old Trafford to get it up to speed with 2023 standards however, the need for a complete demolition might blow their earlier estimate out of the water. Clubs like Real Madrid and FC Barcelona have shifted their focus on stadium renovation rather than expenditure in the transfer market. It would be interesting to see if Manchester United will follow the same route.