Follow usSir Jim Ratcliffe, has acquired a 25% ownership stake in Manchester United and he will take charge of the club’s sports department and plans to invest funds in upgrading the infrastructure.
Ratcliffe intends to allocate €300 million for the renovation of the training center and the stadium. However, he believes this won’t be sufficient, as Old Trafford is in a dire state and requires significant reconstruction.
His proposal is to demolish the iconic stadium with a capacity of 73,031 seats, the largest in the Premier League and second-largest in England after Wembley.
Manchester United has been playing at this stadium since 1910. Over the years, it has undergone reconstructions, primarily to increase capacity, but there haven’t been significant efforts since the club was acquired by the Americans – the Glazer brothers.
“The most cost-effective solution is to build a new stadium,” says Chris Lee, director of the architectural firm Populous, which presented three potential solutions for Old Trafford four years ago.
Lee believes that Manchester United can continue to use the current pitch while the new facility is under construction, considering that there is construction space in the area. This means the club won’t lose revenue from matchday tickets, a crucial part of the financial aspect for the Red Devils, as Manchester United is the most-watched team in the Premier League.
It is speculated that the construction of the new stadium will cost Manchester United around €2.5 billion.
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