SIR JIM RATCLIFFE’S much-maligned plan to get the taxpayer to fund Manchester United’s “Wembley of the North” is set to be rejected.
The Brit’s £1.03bn takeover of 27.7 per cent of the Red Devils is now officially complete.
PASir Jim Ratcliffe’s plan to get taxpayers help in building a new stadium is set to be rejected[/caption]
The SunHe is looking to build a new ground next to Old Trafford or transform their current home[/caption]
He has now declared that his work to take United back to the top of English football has begun.
We revealed earlier this month that he was exploring the idea of building a brand new ground next to where Old Trafford currently sits.
The Theatre of Dreams is 114-years-old and fans have been complaining of a leaking roof, rusting metal and the dated venue that is lagging decades behind the homes of their biggest rivals.
One option could see the 74,000-capacity Old Trafford updated, renovated and expanded – at a cost of around £800m.
But the more exciting, and considerably more expensive, option would be for a brand new stadium to be built from scratch.
The Ineos chief has enlisted the help of Stadium developers Populous to draft up some options to improve the club’s facilities.
Ratcliffe wanted to see something similar to Wembley in his hometown of Manchester and could have even tried to lobby the UK Government to help fund the £2bn new stadium as part of the ‘Levelling Up’ pledges.
However, The Times has stated “the government is likely to reject any approach by Sir Jim Ratcliffe for public money” to help fund it.
It also added that he had “yet to approach ministers and a government source said that public investment could only be considered for regeneration projects around the area, and not for the stadium itself”.
Everton have incurred large debts while paying for their new stadium at Bramley-Moore Dock in nearby Liverpool.
And Richard Caborn, the former Labour sports minister, says: “Public money should absolutely not be used for a new stadium for Manchester United.
“Look at how Everton are struggling to pay for their new stadium. It wouldn’t be right.”
Meanwhile, United are due to confirm details of a new task force that will oversee the regeneration of Old Trafford the surrounding area next week.
MAN UTD NEWS LIVE: All the latest news from Old Trafford
BondibotAn artist’s impression of how a new stadium might look next to the existing Old Trafford[/caption]