Man United 'hold talks over selling Old Trafford naming rights' as Sir Jim Ratcliffe seeks funding for his bold £2billion 'Wembley of the North' project
- United are considering whether to refurbish Old Trafford or build a new stadium
- Sir Jim Ratcliffe wants the ground to become a 'state-of-the-art, wow' venue
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Manchester United are considering selling the naming rights to a refurbished Old Trafford or a newly-built stadium as the club seeks funding for the project, according to a report.
In February, Mail Sport revealed Sir Jim Ratcliffe's £2billion plan to turn Old Trafford into a 'Wembley of the North', with the aim of producing an iconic venue to rival England's national stadium in London and its 90,000-capacity.
The minority owner admitted his preference for the project to be publicly funded in comments made shortly after his purchase was confirmed. However, that wish was quickly rejected by the Government.
United's ground is in dire need of regeneration - a point most recently highlighted during their Premier League clash against Arsenal in May when torrents of water cascaded onto the pitch and seating areas, and even flooded the away dressing-room, when a thunderstorm broke out.
According to The Athletic, the club have held exploratory talks with 'major financial institutions', including Bank of America as they float various funding options.
Manchester United are reportedly considering selling the naming rights to a refurbished Old Trafford or a newly-built stadium
The move has led to further concern over Sir Jim Ratcliffe's commitment to the women's side
The club's current ground is in dire need of redevelopment. Pictured: Water pours into Old Trafford from a leak in the roof after Man United's clash against Arsenal in May
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The report goes on to state that the club are also considering a further hike in ticket prices to increase revenues in the event of a stadium refurb or new-build.
United's 114-year-old stadium has only ever been known as Old Trafford and the club has never sold its naming rights, though, in recent years the practice has become commonplace in football and in world sport.
The likes of Arsenal and Manchester City have stadiums which bear the name of major sponsors, while Old Trafford cricket ground - located a few hundred meters from where the Red Devils play - is another stadia in the portfolio of UAE airline Emirates.
Meanwhile, the club have begun £50m renovations to modernise the men's building at Carrington, in the latest move by INEOS - owned by Ratcliffe - to improve United's infrastructure.
However, the development will see Man United's women's team moved into portable buildings next season. Work will be carried out on the gym, medical, nutrition and recovery provisions as the club looks to modernise its base.
While this won't be a permanent move, it is expected that the men's team will have priority access to the women's facility whenever their schedules cross over.
Manchester United's women's team are set to move in portable buildings for next season
'Temporary adaptations will be made to the rest of the Carrington site to ensure players and staff from all our teams can continue to operate successfully next season.' The club said in a statement announcing the controversial move.
Ratcliffe has recently overseen an end-of-season review into the men’s team, which saw INEOS decide to keep Erik ten Hag in place as manager.
