Sir Jim Ratcliffe has considered approaching tech billionaires Elon Musk and Jeff Bezos to help fund an ambitious ‘Wembley of the North’ project for Manchester United.
The project, which could cost around £2billion, would exceed the £1bn spent on Tottenham’s stadium and aims to address the deteriorating state of Old Trafford.
The iconic stadium is currently facing significant infrastructure challenges, with recent incidents highlighting its decay.
According to The Athletic, Ratcliffe believed the world-famous billionaires might be drawn to United’s global appeal.
Man Utd news: Sir Jim Ratcliffe has considered approaching tech billionaires Elon Musk and Jeff Bezos to help fund an ambitious ‘Wembley of the North’ project for Manchester United
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The INEOS chief, who acquired a minority stake in the club last year, has been exploring various options for the stadium’s future.
These include potentially bulldozing the ground, rebuilding segments, and retaining certain parts as a museum.
The stadium’s current condition has been underscored by recent issues, including water leaks and a concerning two-star hygiene rating following the discovery of mouse droppings.
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Tesla chief Musk, with a net worth of £387.5bn according to the Bloomberg Billionaires Index, and Amazon’s Bezos, worth £196.1bn, would have no financial constraints in funding such a project.
However, the report says it remains ‘unclear’ whether these proposals ever gained meaningful traction.
The club has already considered various revenue-generating measures, including recent ticket price increases and the potential sale of stadium naming rights.
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Complications have emerged regarding Ratcliffe’s ability to independently fund the project through increased equity.
It has also been claimed the majority-owning Glazers would likely resist allowing Ratcliffe to expand his stake through project funding.
Further constraints exist due to current debt lenders having rights over United’s ability to secure additional borrowing.
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Man Utd news: Sir Jim Ratcliffe purchased a minority stake in the club last year
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United are currently in crisis ahead of their Boxing Day clash with Wolves.
They will go into the contest on the back of a dire 3-0 defeat to Bournemouth that has left them sitting 13th in the Premier League table.
Man Utd news: Ruben Amorim’s side are in crisis ahead of their Boxing Day clash with Wolves
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Marcus Rashford is also currently in the spotlight for all the wrong reasons, with the winger linked with a move away as the January transfer window looms.
Clubs in Saudi Arabia, as well as Paris Saint-Germain and Barcelona, are all reportedly eyeing the England winger.
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