According to reports, incoming Manchester United investor Sir Jim Ratcliffe is considering rebuilding Old Trafford in the future. He is said to be planning to create a ‘Wembley of the north’ and is open to the idea of demolishing and rebuilding the current stadium to create a ‘world-leading’ arena. It is believed that fans would be open to the idea of constructing a new state-of-the-art venue on the land around Old Trafford, rather than relocating to a different part of Manchester.
Ratcliffe reportedly wants to build a top-class major venue in the North and believes that fans would support the idea of a new stadium while remaining at the club’s spiritual home. The redevelopment and expansion of Old Trafford is seen as an eight-year project by the incoming INEOS group, who will soon take a 25 per-cent share in United. Plans for an entirely new stadium on the land surrounding Old Trafford are viewed as the most cost-effective way of creating a modern arena that could rival other top stadiums in the country.
The estimated cost for knocking down and rebuilding the stadium is around £1.5 billion. It is also suggested that Ratcliffe might seek government funding as part of the ‘Levelling Up’ pledges.