After the Premier League giants confirmed the deal on Christmas Eve, Sir Jim Ratcliffe has finally completed the acquisition of a 25% stake in Manchester United. It's a stadium that Manchester United fans call the "Theatre of Dreams", but it may have been a nightmare for Sir Jim Ratcliffe.
More than 12 months after announcing his intention to buy the club outright, the British billionaire finally confirmed a compromise deal on Christmas Eve, buying a 25% stake. This means that the much-maligned Glazer family will remain at the helm of the club, while Ratcliffe will oversee football operations. He will face a number of problems at the start of his term, not least Manchester United's apparently failed transfer policy and manager Erik ten Hag's position. But just as important is the condition of Old Trafford, which has reportedly been in decline for a long time, although its 74,031 spectator capacity remains the largest in the Premier League.
Now, INEOS chief executive is being urged to take extreme action to demolish the stadium altogether. Manchester United have been based at Old Trafford since 1910, but a lack of maintenance work in recent years has led to a structural decline, with fans posting a roof leak during the home game against Crystal Palace this season. Back in 2019, the architectural design firm Populous proposed three possible options for the owner: to carry out a minor renovation project, to expand the south stand during the redevelopment, or to build a new stadium. Now, Populous CEO Chris Lee is urging Ratcliffe to start over.
I think the new construction is likely to be the most cost-effective solution," Lee told The Telegraph. "Yes, the initial outlay is obviously the highest of the three possible options, but there's a lot of land out there for development. They (Manchester United) can continue to use the existing venue while construction work is underway, which means there will be no drop in matchday revenue. From an architectural point of view, there are some really innovative and exciting things you can do in the available space. There will be no space limitations. ”
Ratcliffe has reportedly pledged to invest immediately, although the funds will not be used for Ten Hag's spending in the January transfer window. Building a new stadium with a similar capacity to Old Trafford would cost more than £2 billion.