BREAKING: Sir Jim Ratcliffe considering ‘New Old Trafford’ with initial cost outlined

Sir Jim Ratcliffe is reportedly considering the idea that Manchester United should build a new stadium over improving the existing Old Trafford.

Sir Jim Ratcliffe has the idea that Manchester United should build “the Wembley of the North” as part of a completely new stadium in the same area where Old Trafford is currently located.

This is according to The Telegraph, who claim a source close to the new minority owner has said: “He feels the club needs an absolute state-of-the-art, knock-it-out-of-the-park, ‘wow’ stadium.

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“And we feel there’s a strong argument for the country having a top-class major venue in the North – a Wembley of the North.”

Old Trafford, which was built in 1910, has been the home of Manchester United for over 110 years and has become one of the most iconic stadiums in world football.

Although the report explains that Ratcliffe is broadly opposed to United having to relocate while a new stadium is built, he believes that fans would be “happy to accept” a new stadium if it remained on the same grounds.

“The spiritual home is important,” sources said. “We think the fans would be quite happy to accept a brand new stadium if we stay where we are.”

it is explained that the “most radical plan” Manchester United are considering would be to demolish Old Trafford and rebuild it on the same plot of land, but away from the railway line and canal, where the capacity could top 90,000.

It is estimated that expanding the current 74,000-capacity stadium could cost at least £800 million and potentially more, while a new ground could be in the region of £1.5 billion to £2 billion.

The Telegraph say sources have suggested that this level of regeneration programme could attract Government funds under the “Levelling Up” initiative.

“It shouldn’t be a burden on the club because a new stadium should be paying for itself effectively,” sources told the Telegraph. “If you’ve got a new 90,000 stadium, you’ve got 20,000 new people paying for that stadium.”

More to follow.