Revealed: Sir Jim Ratcliffe ‘wanted Elon Musk and Jeff Bezos to help fund new £2bn Old Trafford’ before he became co-owner of Man United – and why stadium is ‘a point of conflict’ with Glazers
Sir Jim Ratcliffe considered approaching Elon Musk and Jeff Bezos to help fund his ‘Wembley of the North’ project, according to a recent report, as the part-owner nears his first anniversary at Old Trafford.
Since purchasing a minority stake in the Red Devils, Ratcliffe’s stewardship has over seen a change in manager and the club’s worst start to a Premier League season in their history.
One of the key issues that characterised his campaign to become a partial owner – and indeed one that has remained prevalent during his time there – was the stadium.
Old Trafford is one of the most iconic stadiums in the world, yet it is in a state of decay and is in need of repair and renovation.
The prospect of a ‘Wembley of the North’ was talked about frequently prior to Ratcliffe’s purchase, though quite how a new stadium would look remains unclear.
The prospect of bulldozing the ground, rebuilding segments, and retaining others as part of a museum were all concepts that had been floated.
Sir Jim Ratcliffe (right) is approaching his first year as Manchester United’s part-owner
Elon Musk, a prominent supporter of US President elect Donald Trump, is worth £387.5bn
An approach to Jeff Bezos was also reportedly considered by Ratcliffe – the Amazon CEO is worth around £196.1bn
However, arguably the biggest question of all surrounded quite how reconstruction would be funded, with the project likely to cost around £2billion – more than the £1bn that Tottenham paid for their industry-leading home.
Ratcliffe may be the richest man in Britain, but a report from the Athletic has since revealed that he floated the idea of getting funding from Elon Musk or Jeff Bezos.
According to the report, Ratcliffe felt either of the world famous billionaires could be tempted by the draw of United.
Finances would hardly be an issue for either man; Tesla chief Musk’s net worth is thought to be around £387.5bn according to the Bloomberg Billionaires Index, and Amazon’s Bezos worth £196.1bn.
The Athletic, though, write that it is ‘unclear’ if those proposals ever gained the necessary traction.
It has previously been reported that the recent increase in ticket prices as well as the option of selling naming rights for the ground had been considered to raise money for a new stadium project.
Those with knowledge of the situation have reportedly cast their doubts over the majority owning Glazers would allow Ratcliffe to increase his own equity in the club by funding the project himself.
Additionally, current debt lenders having rights on whether United can indeed borrow any more money.
A mouse is pictured on turf at Old Trafford during their match against Bodo/Glimt in November
He has also held talks with the government about the option of public funding, while he also has the option of selling part of his INEOS stake to raise capital.
Chief Operating Office Collette Roche is believed to be key to any plans around the stadium, and is becoming an increasingly prominent figure at the club, having taken over staffing, security and travel duties.
Ratcliffe however appears to be determined to build a new stadium and bring the club’s infrastructure into the modern day, especially at a time when Manchester City’s Etihad stadium is aiming to become a key venue in the north.
Mail Sport reported exclusively that mouse droppings were discovered on a recent visit to Old Trafford by health inspectors before the club was slapped with a two-star hygiene ratings.
There have also been notable pictures in the past 12 months of leaks in the Old Trafford roof, in particular after the home defeat by Arsenal last season.
Head coach Ruben Amorim’s post-match press conference after the 3-0 defeat by Bournemouth was also interrupted by water dripping from the ceiling.
