Jim Ratcliffe to follow Man City’s lead in Old Trafford revamp plan
New plan to transform Old Trafford area into multi-use zone can take the stadium from ‘service station’ to one-stop shop – just like the Etihad
If you spend enough time in the company of Manchester United staff, supporters and visiting directors, they will eventually tell you their Old Trafford horror stories.
One former employee recalled the time when he first saw a rat scurry across the floor of the department he worked in. Last September, during United’s match against Crystal Palace, a row of fans halfway up the Stretford End were drenched thanks to a hole in the roof.
One of the more illuminating recent stories came from a regular visitor to the directors’ boxes of Premier League clubs. They were describing with vim the experience of eating the fanciest food and sipping the most delectable wines in the directors’ lounge at Tottenham Hotspur’s new stadium.
“It was like going to a film premiere.” How did Old Trafford’s directors’ lounge feel in comparison? “Like a service station.”
The years of under-investment from the Glazers have left United fans with a decaying, second-rate stadium.
However, there is still much to admire about Old Trafford, which has been United’s home for 114 years. You still can sense the history of the club, from the tributes to the victims of the Munich Air Disaster, to the statues of six figures who have shaped the club’s destiny — Sir Alex Ferguson, Sir Matt Busby, Jimmy Murphy, Sir Bobby Charlton, Denis Law and George Best. When the 74,310 supporters that the stadium houses are all in good voice, they create a remarkable atmosphere too.
But when you listen to the aforementioned stories, you can see why there is such excitement and intrigue at the news that Sir Jim Ratcliffe, the new co-owner, is looking at the possibility of United building a 90,000-seater stadium, dubbed a “
Wembley of the North”.
Ratcliffe will take charge of football operations once his £1.03 billion bid to buy 25 per cent of United is ratified by the Premier League later this month, and possibly as soon as next week.
Building such a stadium, at a cost of £1.5 billion to £2 billion, next to Old Trafford is one of two options that Ratcliffe is considering. The other involves refurbishing or redeveloping the “Theatre of Dreams”, which would cost approximately £800 million.
The proposals have been put to United by Legends International and architects Populous, the companies tasked with overseeing the project.
The new stadium would be located behind the Stretford End as United own a big stretch of land around the stadium which is used for either car parking or offices. The idea is not simply to build a new stadium but to create a new, lively area full of businesses, offices, bars, restaurants and a cinema.
Manchester City’s stadium, in the east of the city, is surrounded by a mini fan park with a stage for live bands. Over the road, a new 24,000-seater arena has been built for concerts.
That part of east Manchester has been regenerated since Sheikh Mansour bought City in 2008. The plan would be for a similar scenario outside United’s new ground.
Ratcliffe will put some money towards the stadium — he has already committed £245 million to upgrading the club’s infrastructure as part of his minority investment deal — but Ineos, his company, is looking for outside investors, too, and possible government funds under the “Levelling Up” initiative.
Building a new stadium and the surrounding entertainment village would create many jobs and boost the local economy. But Tracey Crouch, the former sports minister, argued that no public funds should be used to build a prospective stadium.
“Old Trafford may need upgrading to meet today’s standards but funding should not come out of the taxpayer’s pocket to benefit the billionaires who own the club — especially as other clubs like Bury have faced ruin, devastating the town around them, with no bailout from the public purse,” she told City AM.
As United have stated for some time, they have not ruled out the idea of raising money through selling the naming rights to any new stadium. They will, however, insist on Old Trafford remaining the core part of the stadium’s name, so for example, it could be called “Old Trafford in association with company X”.
United would have to service the debt on a new or redeveloped stadium, but sources said a project that contributed to the future growth of the club should be viewed through a different lens to the Glazers’ leveraged buyout of the club in 2005.
United will benefit from Ratcliffe’s expertise in big infrastructure projects. Ineos is building a £5 billion chemical plant in Antwerp, Belgium, dubbed “Project One” and knows how to raise capital through large financing deals.
The second option, for United to redevelop Old Trafford, would be much cheaper but is not without its difficulties. United would have to build over the railway track behind the Sir Bobby Charlton Stand if it were moved backwards to create room for more seats.
Knocking the stand down and rebuilding it would lead to a temporary reduction in match day revenue, whereas if United built a new stadium instead, they could carry on playing at Old Trafford while the work is carried out.
A complete redevelopment of Old Trafford could, sources said, take ten years to complete.
Ratcliffe, 71, wants to move quickly on this project as soon as his investment is ratified. There is an acknowledgement from Ineos and the Glazers, who are still the majority shareholders, that the club must seek the opinions of fans, local residents, regulatory bodies, Trafford Council and private investors before coming to a final decision.
That process will begin as soon as the Premier League signs off Ratcliffe’s offer to take 25 per cent of the club.
fair play, such an easy way to (rightfully) rile people up. Utterly mental.