16 October 2023 , 05:30
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Sir Jim Ratcliffe is ready to accelerate plans to boost Old Trafford's capacity to 90,000 if his offer for a 25 percent stake in Manchester United is accepted.
Ratcliffe emerged as the sole frontrunner to buy a stake in the club after Sheikh Jassim bin Hamad Al Thani withdrew his takeover offer on Saturday. The club's board are expected to meet on Thursday to approve Ratcliffe's proposal for an initial 25 percent stake.
The British billionaire will then assume control over football operations at the Premier League giants. There is another pressing issue though, with one of the biggest criticisms of the current owners, the Glazers, being their neglect of the club's infrastructure.
Their home stadium, Old Trafford, frequently springs leaks, as seen during the defeat to Crystal Palace. But plans to upgrade the ground had been put on hold while the takeover saga was ongoing.
With that process now finally approaching its end, Ratcliffe will 'accelerate' plans for urgent modernisation of the stadium, according to The Times. The need to upgrade Old Trafford is said to have been a 'significant part' of the negotiations over his investment.
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Funds have already been set aside from Ratcliffe's expected £1.3billion injection into the club, in return for 25 percent of A and B shares. Currently, Old Trafford's capacity is 74,310, though Ratcliffe is planning to explore increasing that to 90,000.
The deadlock over the saga was finally broken over the weekend and Ratcliffe's offer is expected to be ratified at a board meeting this week. He will then assume control over football affairs, though legendary skipper Gary Neville does have concerns.
HAVE YOUR SAY! Is Sir Jim Ratcliffe the right man to take over Manchester United? Comment below.
Sir Jim Ratcliffe is read to accelerate plans to upgrade Old Trafford as he closes in on a deal for a stake in Manchester United (PA)"The news last night of the Qatari withdrawal leaves Manchester United on the brink of a minority investment. Can this really work and what impact will it have on a struggling organisation?" Neville tweeted on Sunday.
"It’s worth setting out my non-negotiables on a takeover of Manchester United that I made over a year ago. A new sporting project, a new or redeveloped Old Trafford, a New training ground, full redevelopment of the surrounding land to create a Manchester United World and amazing fan experience and pay off the debt and stop taking dividends until the above is done.
"I’m adding a 6th due to events in the last 2-3 years. The club requires leadership that is statesmanlike on major issues that enables a fairer, more inclusive and diverse game.
"Leadership that builds a positive environment and culture whilst adhering to the clubs values and principles and one that is willing to make tough decisions to prevent an erosion in the clubs public image.
"How does a minority stakeholder positively impact the club to achieve the above? Can a minority shareholder have any impact on the above. It leaves more questions than answers.
"My preference is and always will be now for a Glazer family full exit. They have overstayed their welcome in Manchester yet seem oblivious to this fact. There is much up in the air."