Manchester United Old Trafford plans set to be revealed
Manchester United are today expected to announce plans for a new stadium to replace Old Trafford after co-owner Sir Jim Ratcliffe defended the club’s penny pinching.
A “Wembley of the North” on the site of Old Trafford has been Ratcliffe’s goal since the billionaire purchased just under 30 per cent of Manchester United last year.
The announcement – expected to reveal the club’s intention to build a new stadium on the same land rather than redevelop Old Trafford – has been touted as potentially “the most iconic football stadium in the world”.
Cuts
It comes after Ratcliffe has been criticised by fans and former players for a swathe of cost-saving measures, including redundancies which could reach 450 and cuts to staff canteens.
“The club’s going to finish up in a very different place in three years’ time to where it’s been in the past, in my view,” Ratcliffe told the BBC.
“I think it will become the most profitable club in the world. I think we may well finish up with the most iconic football stadium in the world, and I think we will finish up winning silverware again.
“Manchester United would have run out of cash by the end of this year – by the end of 2025 – after having me put $300m (£232.72m) in and if we buy no new players in the summer.
“We are in the process of change and it’s an uncomfortable period and disruptive and I do feel sympathy with the fans.
“The simple answer is the club runs out of money at Christmas if we don’t do those things.”
Manchester United change
Ratcliffe was welcomed with open arms at Manchester United when his stake gave him control of the running of football operations at the Premier League club, although the Glazer family remain majority owners.
But a year later there are already disgruntled supporters calling for change, and Ratcliffe has been causing ripples with a number of Ineos relationships in sport.
He has split up from Sir Ben Ainslie in their quest to win the America’s Cup, while he faces a legal suit from New Zealand Rugby over a sponsorship deal.
The cycling arm of the Ineos portfolio has seen star rider Tom Pidcock move to a rival team while the chemicals firm is considering scrapping a sponsorship deal with Tottenham Hotspur.
“I don’t enjoy reading the newspaper very much these days, I have to say,” Ratcliffe added. “I know it’s unpopular, and this period of change is uncomfortable for people, and some of the decisions we have to make are unpleasant. But they are necessary to put Manchester United back on to a stable footing. If people want to see Manchester United winning trophies again then we have to do all this stuff.”