The brand new co-owner of Manchester United and owner of Ineos, Jim Ratcliffe, intends to build a new stadium in which the Red Devil team plays its home games, saying goodbye to Old Trafford. The investment would rise to €2.4 billion.
Everything indicates that Ratcliffe It is already in negotiations with several English institutions to obtain construction permits for the new stadium. His strategy involves putting pressure on the English Government in line with the Executive’s promises regarding its policy dubbed Leveling Up.
The policy of the body chaired by Rishi Sunak contemplates revitalizing the northern area of England and the new Old Trafford stadium would be one of the jewels in the region’s crown, being a booster of tourism and the local economy.
Regarding the location of the new stadium, it is expected to be near the current Old Trafford, so the Theater of Dreams could be demolished to make way for its successor. Something similar to what happened in Spain with the San Mamés stadium in Bilbao.
Despite the club’s owner’s potential interest in building a new stadium, Ratcliffe would not take a dim view of renovating the current Old Trafford. To this end, in November, he announced that he will invest 300 million to improve the club’s infrastructure.
The owner of Ineos has already agreed to pay US$1.5 billion to acquire 25% of the English team’s shares. In this way, Ratcliffe’s investment in Manchester United would be close to US$2 billion.
Manchester United The 2023-2024 season started, improving its turnover by 16% but decreasing its profitability. Specifically, the English club has lost €30 million euros between last July and September, according to a statement from the Old Trafford entity.
The Red Devils have invoiced €217 million in the first quarter of this season, including capital gains from transfers, which have amounted to €34.4 million. This growth in turnover is due to the team’s return to the Champions League and the increase in matches played at Old Trafford during this period. However, the club reduced its forecasts after being eliminated from the top European competition in the group stage.
In that sense, the club improved financially in capital gains from transfers, up to 78%, which translated into €34.3 million after the sale of Anthony Elanga, Frederico Rodrigues ‘Fred’ and Dean Henderson.
Source: Ambito
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