The story of Manchester United and Old Trafford might be coming to an end. After 113 years, the mythical stadium is reaching the end of its natural life according to a shocking report by The Telegraph.
The information confirms that the architects in charge of Manchester United’s redevelopment project have urged Sir Jim Ratcliffe and the Glazers “to demolish an outdated Old Trafford and build a truly innovative and exciting new stadium.”
Just a few days ago, Ratcliffe officially acquired a 25% of the team’s shares. Now, the billionaire is ready to put a massive amount of money to transform the club.
For several years, Manchester United fans have pointed out that one of the major problems is precisely the club’s infrastructure. That’s why Old Trafford could bid farewell.
Old Trafford might be demolished by Manchester United
The report from The Telegraph emphasizes that Chris Lee, CEO of Populous (the architects overseeing the redevelopment), told ownership that demolishing Old Trafford has to be considered a viable option even with a massive cost.
“I feel the new build may well turn out to be the most cost effective solution. Yes, the initial outlay is obviously the highest of the three options but there is so much land available to develop there. They could carry on using the existing ground while building work is underway, meaning no decline in matchday revenues.”
Who is Sir Jim Ratcliffe?
Sir Jim Ratcliffe is a remarkable figure of the business world. He was born on October 18, 1952, in Failsworth, Lancashire, England, and is the founder and chairman of INEOS, one of the world’s largest chemical companies.
Ratcliffe invested in Manchester United to have significant sporting influence on the team. A rebuilding project for Old Trafford or a new stadium in the city could definitely be part of that goal.
In 1998, Ratcliffe founded INEOS, a global petrochemical company. Under his leadership, INEOS expanded rapidly, acquiring numerous companies, including the chemical businesses of BP, ICI, and BASF.
Beyond his accomplishments in the chemical industry, the British billionaire has also made a huge impact in the world of innovation and sustainability. Undoubtedly, he is one of the top names in the industry.
Something that sets Ratcliffe apart from many other entrepreneurs is his hands-on approach while managing INEOS. Many of his workers admire how involved he is in the day-to-day operations of many areas in the company.
Ratcliffe is also a huge sports fan sponsoring the successful cycling team INEOS (former Team Sky) in big events such as the Tour de France. In Formula 1, INEOS also supports Mercedes. Manchester United will be another example of that passion.