Man Utd clap as Ratcliffe's bold Old Trafford plan is 'unlikely' to get funding

Sports

SIR JIM RATCLIFFE is “unlikely” to be given the green light to build a publicly funded £2 billion “Wembley of the North” for Manchester United's Old Trafford.

The Ineos chief has laid out plans for United to leave their 114-year-old home for a brand new, state-of-the-art 90,000 capacity ground on land next to the stadium.

The aging Old Trafford may now be even harder to replaceCredit: EPA

Sir Jim Ratcliffe is said to have held talks with Mayor Andy BurnhamCredit: AFP

At the very least, United's current stadium is in urgent need of modernizationCredit: Rex

Sir Jim, Britain's second richest man, is considering seeking help from local and national government funds to realize ambitious plans for the site, which would become the centerpiece of a sports and entertainment complex.

But while it is thought possible that the Department of Leveling, Housing and Communities could consider a significant regeneration programme, it appears there are major hurdles standing in the way.

So far no action has been made to the government, although Sir Jim is believed to have held talks with Greater Manchester Mayor Andy Burnham.

Manchester City was gifted the Etihad Stadium after the 2002 Commonwealth Games, while West Ham has a long-term lease on the London Stadium, the main venue for the 2012 Olympic Games.

Both clubs have made their grounds the focus of major regeneration programmes.

But United and Ineos would have to make a convincing case for major government investment, which would have to be a plan that involved much more than just a new ground for the club.

All four current tranches of the government's Leveling Up fund have now been allocated, although money could potentially be available through other financial packages.

However, it would have to be what was described as a “very attractive regeneration project” before there was likely to be any serious government interest in spending taxpayers' money on such a scheme.

It is believed that Ratcliffe is keen on a new location next to the current site

FREE BETTS – BEST BETTS & BONUSES FOR NEW CUSTOMERS

This is an artist's impression of what a new stadium could look like

Meanwhile, United fans say Real Madrid's renovated Bernabeu should be the benchmark for a new look for Old Trafford.

Proponents will wonder whether they would rather redevelop their current home or start from scratch in the neighborhood.

Five things Jim Ratcliffe needs to change at Manchester United, including revamping Old Trafford, selling Sancho and Antony and winning the fans' trust

Spanish giants Real recently completed their own renovation which cost around £850 million but looks spectacular.

That is comparable to the figure charged for modernizing United's current home ground, while a new stadium at Old Trafford could require as much as £2 billion.

However, the Manchester United Supporters Trust believe this will be crucial as it will be a symbol of the club's revival in the future. Lifelong United fan Ratcliffe has pledged £237million to help renovate the stadium.

MUST chief executive Duncan Drasdo said: “Nothing would symbolize United's renaissance more vividly than a truly world-class stadium, which could rival our biggest rivals at home and in Europe.

“Many United fans have looked at what Real Madrid have done and that level should be the benchmark.

“There is a feeling that we have not only fallen behind on the pitch, but also in terms of the stadium and other facilities.

“Having really ambitious people with a track record of major infrastructure development gives new hope.”

The Trust hopes fans will be fully consulted about the emotional decision on whether to leave the stadium, which has been the club's home ground since 1910.

It remains the largest club stadium in the country – with a capacity of more than 74,000 – but remains under Glazer's ownership.

Drasdo added: “There needs to be a rational debate about what is best for the football club and its supporters, and not just about the best economic outcome for the shareholders.

“The sounds we're hearing from Ineos suggest they are sympathetic to that view.

“If you clearly suggest that Old Trafford will be brought down you will provoke an immediate emotional and protective response from every supporter.

“Most fans are torn about this and it's essentially a matter of heart versus head.

“But we really need to see the details of the two options side by side to make a comparison and allow fans to form an informed opinion.”

MAN UTD NEWS LIVE: Keep up to date with the latest transfer news from Old Trafford