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4 months ago
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Sir Jim Ratcliffe is looking to find ways to fund his dream of owning the equivalent of Wembley – but in the north.
It’s going to take a gigantic project to get things right. By selling the naming rights of the stadium, the regeneration project gets off to a questionable start that warrants criticism, but I do not doubt that the current stadium will forever be known as Old Trafford to the fans.
According to The Athletic, United are considering selling the naming rights to a refurbished Old Trafford or a newly-built stadium to drive up revenues to fund the move.
It is understood that United have held talks with some major financial institutions as they aim to raise funding for the project, which is being led by a task force that features former club captain Gary Neville.
Bank of America are among the institutions to have held talks with United.
Another detail from the report states that the club is also deliberating over substantial ticket price rises. That will be a concern for season ticket holders who feel a rise in ticket prices will only price them out of the game they love and the club they’ve followed all their lives.
United declined to comment on all points raised by Adam Crafton, who reports: “It is unclear at this stage whether the club or INEOS, the company owned by Ratcliffe, would carry the burden of fresh debt if money is borrowed to fund the infrastructure project. United’s financial results posted in the second quarter of the financial year in March stated that the club still have debt totalling £653.3m, excluding money owned in transfer fees, largely as a legacy of the Glazer family’s sole ownership of the club, before they sold a stake to Ratcliffe and handed over operational control of the club to the British businessman.”
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