According to reports in the UK, Manchester United is contemplating selling the naming rights to either a renovated Old Trafford or a newly constructed stadium as part of efforts to secure funding for the project.
In February, Mail Sport unveiled Sir Jim Ratcliffe’s £2 billion proposal to transform Old Trafford into a ‘Wembley of the North’. The plan aims to create an iconic venue that would rival England’s national stadium in London, with a capacity of 90,000 spectators.
The minority owner expressed a preference for the project to be publicly funded shortly after his purchase was confirmed. However, this request was promptly rejected by the government.
Manchester United’s stadium is in urgent need of regeneration, as underscored most recently during their Premier League match against Arsenal in May. Heavy rain during a thunderstorm caused torrents of water to cascade onto the pitch and seating areas, even flooding the away dressing room.
According to The Athletic, Manchester United has engaged in exploratory discussions with major financial institutions, including Bank of America, as they consider various funding options.
The report also mentions that Manchester United is contemplating raising ticket prices further to boost revenues if they proceed with refurbishing or building a new stadium.
Old Trafford, the club’s historic 114-year-old stadium, has always been known by that name, and Manchester United has never sold its naming rights.
However, in recent years, it has become common in football and across global sports for stadiums to bear the names of major sponsors.
For instance, Arsenal and Manchester City have stadiums named after major sponsors, while the nearby Old Trafford cricket ground is also sponsored by the UAE airline Emirates.
Meanwhile, Manchester United has initiated £50 million renovations to modernize the men’s facilities at Carrington. This is part of ongoing efforts by INEOS, owned by Jim Ratcliffe, to enhance the club’s infrastructure.
Get instant and latest news updates via Our WhatsApp Community or Google News online channel.