United Thread - 2023/24

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www.telegraph.co.uk

Sir Jim Ratcliffe’s bold plan for Old Trafford to become ‘Wembley of the North’

Exclusive: British billionaire may ask the Government for financial assistance to help build ‘state-of-the-art’ ground for Manchester United
www.telegraph.co.uk www.telegraph.co.uk


Ratcliffe and Ineos chiefs have already begun dialogue with Andy Burnham, the Mayor of Greater Manchester, Trafford Council leaders and other civic officials over the future of Old Trafford at the same time as starting to explore financial options.

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A pioneering new stadium and the potential for a surrounding sport, entertainment and community village would create jobs and provide a huge boost to the local economy and beyond.

Sources suggested that such a major regeneration programme could attract Government funds under the “levelling up” initiative.

Even with financial assistance from the state, though, United would have to drum up huge sums of money to fund such a project.


Ineos are in the process of building a new £5 billion chemical plant in Antwerp dubbed “Project One” and accustomed to raising capital through large financing deals.

The current debt mountain on United has become an emotive issue for many fans given the manner of the Glazers’ leveraged takeover in 2005.

United would have to service the debt on a new or redeveloped stadium but sources said a project that ultimately contributed to the future growth of the club should be viewed through a very different lens to the Glazers’ leveraged buy-out.

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

Financing options available to United would have to be explored but one suggestion was the creation of a separate stadium development company that could see the club effectively paying rental to use the stadium over an agreed period until such time it became their own.

Old Trafford has not been selected among the host venues for the European Championship finals that the UK and Ireland are due to host in 2028. Following consultation between United and the Football Association last year, it was mutually agreed the stadium should not be included owing to the prospect of redevelopment work.

Ratcliffe, 71, is due to gain complete control of football operations as part of his deal for a minority shareholding but the Glazers have since agreed that Ineos should have a broader influence encompassing key decisions across the business.

The future of Old Trafford is principal among those and Ratcliffe, a boyhood United fan who hails from Failsworth near Oldham, is keen to play a decisive role in helping to drive that forward.


Why would Government give United public money?
With an election this year, a key battleground for the Government and opposition will be competing visions of promised rejuvenation for the north. The National Infrastructure Commission (NIC) has told ministers already this year that “the UK must address its persistent slow economic growth and entrenched regional inequalities”.

The Government has decided on allocations for the third and final round of the £4.8 billion levelling up fund which was first announced in October 2021, but Freedom of Information responses recently showed the majority of councils are yet to spend previous funds received.

There may also be funds left over after Rishi Sunak’s scrapping of the northern leg of HS2, which was followed by a promise to divert £36 billion into transport in the Midlands and North. The future of levelling up is unclear, but both the Government and Labour have repeatedly outlined ambitions to redress the balance in wealth between north and south as they target votes this summer.

The Levelling-up and Regeneration Act became law on October 26 last year, encouraging more councils to put in place plans to enable the building of new homes. For Old Trafford to benefit, it would have to be included in a wider vision for regeneration in left-behind communities.

How would this differ with City’s stadium agreement?
United would not be the first club in Manchester to benefit from facilities built with public money. Their Abu Dhabi-owned rivals City are council tenants at the Etihad, formerly known as the City of Manchester Stadium, a 48,000-seat venue built for the 2002 Commonwealth Games. Around £78 million from the national lottery and £49 million from Manchester City Council contributed to its build and it was converted to a football stadium at the public’s expense too.

The key difference is that United would retain ownership of the stadium, while City, despite investing heavily in recent stadium improvements and agreeing naming rights deals, retain a lease arrangement with Manchester City Council on a “fully repairing” basis, which now sees all operating, maintenance and future capital costs borne by the club.

Have any other clubs targeted levelling-up funds?
Yes, but only at the other end of English football’s pyramid. In September, Telegraph Sport detailed how fans and MPs filed an expression of interest with funds over a proposal to buy Southend United’s dilapidated Roots Hall. Events have overtaken the application, however, with Ron Martin eventually agreeing to the sale of the club to a consortium led by Australian IT millionaire Justin Rees. There was state support, however, for Bury’s return to Gigg Lane this season after the club’s Football League expulsion in 2019. In Bury’s case, around £1.3 million was made available – £450,000 from Bury council and the rest from the levelling up fund.




Brass necked and typical hope Burnham tells them to get stuffed and sort themselves out
 
Last edited:
Andy Burnham will be on his knees noshing off which ever corrupt cnut is in charge of the leveling up dosh no doubt, after that kiss arse "I'll do whatever you need" article the other day.
 
johnbmcr said:
www.telegraph.co.uk

Sir Jim Ratcliffe’s bold plan for Old Trafford to become ‘Wembley of the North’

Exclusive: British billionaire may ask the Government for financial assistance to help build ‘state-of-the-art’ ground for Manchester United
www.telegraph.co.uk www.telegraph.co.uk


Ratcliffe and Ineos chiefs have already begun dialogue with Andy Burnham, the Mayor of Greater Manchester, Trafford Council leaders and other civic officials over the future of Old Trafford at the same time as starting to explore financial options.

Advertisement

A pioneering new stadium and the potential for a surrounding sport, entertainment and community village would create jobs and provide a huge boost to the local economy and beyond.

Sources suggested that such a major regeneration programme could attract Government funds under the “levelling up” initiative.

Even with financial assistance from the state, though, United would have to drum up huge sums of money to fund such a project.


Ineos are in the process of building a new £5 billion chemical plant in Antwerp dubbed “Project One” and accustomed to raising capital through large financing deals.

The current debt mountain on United has become an emotive issue for many fans given the manner of the Glazers’ leveraged takeover in 2005.

United would have to service the debt on a new or redeveloped stadium but sources said a project that ultimately contributed to the future growth of the club should be viewed through a very different lens to the Glazers’ leveraged buy-out.

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

Financing options available to United would have to be explored but one suggestion was the creation of a separate stadium development company that could see the club effectively paying rental to use the stadium over an agreed period until such time it became their own.

Old Trafford has not been selected among the host venues for the European Championship finals that the UK and Ireland are due to host in 2028. Following consultation between United and the Football Association last year, it was mutually agreed the stadium should not be included owing to the prospect of redevelopment work.

Ratcliffe, 71, is due to gain complete control of football operations as part of his deal for a minority shareholding but the Glazers have since agreed that Ineos should have a broader influence encompassing key decisions across the business.

The future of Old Trafford is principal among those and Ratcliffe, a boyhood United fan who hails from Failsworth near Oldham, is keen to play a decisive role in helping to drive that forward.


Why would Government give United public money?
With an election this year, a key battleground for the Government and opposition will be competing visions of promised rejuvenation for the north. The National Infrastructure Commission (NIC) has told ministers already this year that “the UK must address its persistent slow economic growth and entrenched regional inequalities”.

The Government has decided on allocations for the third and final round of the £4.8 billion levelling up fund which was first announced in October 2021, but Freedom of Information responses recently showed the majority of councils are yet to spend previous funds received.

There may also be funds left over after Rishi Sunak’s scrapping of the northern leg of HS2, which was followed by a promise to divert £36 billion into transport in the Midlands and North. The future of levelling up is unclear, but both the Government and Labour have repeatedly outlined ambitions to redress the balance in wealth between north and south as they target votes this summer.

The Levelling-up and Regeneration Act became law on October 26 last year, encouraging more councils to put in place plans to enable the building of new homes. For Old Trafford to benefit, it would have to be included in a wider vision for regeneration in left-behind communities.

How would this differ with City’s stadium agreement?
United would not be the first club in Manchester to benefit from facilities built with public money. Their Abu Dhabi-owned rivals City are council tenants at the Etihad, formerly known as the City of Manchester Stadium, a 48,000-seat venue built for the 2002 Commonwealth Games. Around £78 million from the national lottery and £49 million from Manchester City Council contributed to its build and it was converted to a football stadium at the public’s expense too.

The key difference is that United would retain ownership of the stadium, while City, despite investing heavily in recent stadium improvements and agreeing naming rights deals, retain a lease arrangement with Manchester City Council on a “fully repairing” basis, which now sees all operating, maintenance and future capital costs borne by the club.

Have any other clubs targeted levelling-up funds?
Yes, but only at the other end of English football’s pyramid. In September, Telegraph Sport detailed how fans and MPs filed an expression of interest with funds over a proposal to buy Southend United’s dilapidated Roots Hall. Events have overtaken the application, however, with Ron Martin eventually agreeing to the sale of the club to a consortium led by Australian IT millionaire Justin Rees. There was state support, however, for Bury’s return to Gigg Lane this season after the club’s Football League expulsion in 2019. In Bury’s case, around £1.3 million was made available – £450,000 from Bury council and the rest from the levelling up fund.




Brass necked and typical hope Burnham tells them to get stuffed and sort themselves out
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Cheeky cnuts.
 
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