Ineos chief Sir Jim Ratcliffe will focus on renovating Old Trafford and increasing capacity to 90,000 if his offer to buy a minority stake in Manchester United is approved
If a deal to buy a 25% share in Manchester United is completed in the coming weeks, Sir Jim Ratcliffe will ‘accelerate’ plans to renovate Old Trafford.
Over the weekend, it was announced that the Ineos CEO, 70, is now in a strong position to reach an agreement with the Glazers. The breakthrough comes nearly a year after the Americans put United on the market in November of last year, with the family deciding to sell a minority ownership rather than the entire club.
Although the Glazers will retain influence, any deal is expected to give Ratcliffe control over sporting things. And the advent of the petrochemicals millionaire will ensure that plans to renovate United’s aging stadium are carried out.
According to The Times, Ratcliffe will proceed with the redevelopment of Old Trafford, with monies already put aside in the £1.3billion transaction that is pending final approval from the Manchester United board. According to the article, Ineos would also like to boost Old Trafford’s capacity to 90,000 after repairs.
Plans to restore the Theatre of Dreams to its former splendour will be appreciated by fans who have been vocal about the stadium’s deterioration. At a supporters forum in 2021, United co-owner Joel Glazer was challenged on the status of the club’s stadium and pledged that more will be done to bring Old Trafford up to standard.
“Old Trafford is at the heart of Manchester United, and while we have spent over £100 million on infrastructure projects over the last ten years, we will now accelerate the process of planning much more significant investment and stadium upgrades,” he stated.