SIR JIM RATCLIFFE and INEOS are already making progress towards his incredible plans for Old Trafford’s redevelopment, according to reports.
The new Manchester United part owner has bold plans for the home of the Red Devils ahead of the confirmation of his 25 per cent takeover.
PASir Jim Ratcliffe’s and Ineos’ plans for Old Trafford have been revealed[/caption]
One plan under consideration was the building of a brand-new stadium – but this has reportedly now been ditched
And a report from Mail Sport has now lifted the lid on Ratcliffe’s plans, scheduled to be enacted over the next five years.
The report reveals a new 90,000-seater stadium is the plan including a “new Stretford End”.
It had previously been suggested stadium plans could see Man Utd build a completely new ground.
However, this plan has now been ditched in favour of refurbishing the current ground.
Ratcliffe, 71, plans to use the example of Tottenham’s single-tier 17,500 capacity “Kop” style stand as inspiration for the use of a new and renewed Old Trafford.
A so-called “Wembley of the North” appears to be no mere boast either.
Talks between Ineos, local politicians – including the mayor of Greater Manchester Andy Burnham – and the FA have already begun.
A stunning step towards this goal includes a five-year plan to redevelop Old Trafford to be a site which stretches down to the water and links to MediaCity.
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Amenity plans include a five-star hotel and a host of other facilities to accommodate Man Utd’s global supporter base, with only a megastore and museum currently at the club’s disposal.
Huge infrastructure projects like the one proposed on the grounds of Old Trafford are nothing new to Ineos, who are currently building a £5billion petrochemicals plant in Antwerp, Belgium.
These plans would also come as a preface to Man Utd luring some England national team games to Old Trafford.
The ground, which remains the second largest in England only Wembley, was not selected for the United Kingdom’s 2028 European Championship host bid.
But how would all these plans be paid for?
Any agreement on financing such a project would need the approval of the Glazers, who are understood to be happy to allow Ineos to take the lead.
Debt procured would reportedly still need to be serviced and paid off, though it would represent a different prospect to the debt put on the club by the Glazers’ leveraged buyout in 2005 due to it going on a facility which would increase club revenues.
Government insiders believe a straight cash payment for a football stadium is unlikely, given that other publicly funded stadiums often have a variety of uses including for other sports.
Elsewhere, Ineos are looking to appoint Newcastle’s Dan Ashworth as a director of football and Southampton’s Jason Wilcox in a senior role in the department.
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