Manchester United officials are reportedly thinking about selling the naming rights to Old Trafford. The historic stadium was opened 114 years ago and is one of the most prominent soccer arenas in the world. United’s home has undergone a series of alterations over the years and currently accommodates 74,000 fans on game days. It is currently the largest stadium in the Premier League.
Despite Old Trafford’s significance, new minority owner Sir Jim Ratcliffe has been open about wanting changes to the arena. Almost immediately after completing the $1.65 billion investment, reports surfaced that the billionaire strived to turn the arena into a ‘Wembley of the north.’ Wembley is a massive 90,000-seat stadium in London, which is typically used by the England national team.
It remains unclear whether the club chooses to completely renovate Old Trafford or build a brand new stadium. Nevertheless, The Athletic is reporting that team officials have already held discussions with banks on how to fund the massive project. Fulfilling Ratcliffe’s plan regarding the arena will likely cost billions of dollars.
Rising debt has forced the club to consider unpopular decision
While the club has opted against commenting on the issue, the news outlet claims that Bank of America is one of the financial institutes involved in the talks. Potentially selling the naming rights to the famous arena would generate massive amounts of money. These funds would then go straight back into making the necessary stadium alterations.
Several big European clubs have chosen to sell the naming rights to their stadiums in recent years. Fellow English sides such as Arsenal and Manchester City currently have lucrative naming contracts with Middle Eastern airlines. German financial company Allianz also has similar deals with Bayern Munich, Juventus, and Minnesota United, among others.
Nevertheless, the move would certainly not go down well with a vast majority of Manchester…
Source link : https://worldsoccertalk.com/news/man-united-considers-selling-naming-rights-of-old-trafford/
Author : Chris Moore
Publish date : 2024-06-26 16:04:29
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