Old Trafford needs modernization, and new minority owner has grand plans for this investment. Sir Jim Ratcliffe intends to transform Manchester United's stadium into the "Wembley of the North" and aims to apply for government funds to assist in renovation.

Billionaire's shares

Sir Jim Ratcliffe announced on Christmas Eve purchase of a 25% stake in Manchester United. The investor will also acquire up to 25% of Class A shares. Transaction is subject to Premier League approval. Once finalized, billionaire will gain control over the club's sporting affairs and will have the option to purchase more Class B shares from the Glazers if they decide to sell. A few days ago, current shareholders voted at an extraordinary general meeting to accept a special resolution, ensuring that Class B shares will not be converted to Class A shares upon changing hands.

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Hundreds of millions for infrastructure

One of first things Sir Jim Ratcliffe wants to do is improve the infrastructure belonging to Manchester United. The billionaire plans to allocate £239 million for this purpose. A source close to Ratcliffe told The Telegraph that he wants to create a Northern Wembley that could compete with the London national stadium, with a capacity of 90,000 seats. Sir Ratcliffe believes the club absolutely needs the most modern stadium that will make an impression.

The project could be funded by the government under the Leveling Up program, as it aligns perfectly with its objectives through job creation and economic stimulation.

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End of Theatre of Dreams?

Ratcliffe is convinced that fans would support the construction of an entirely new stadium if it were built on the land surrounding Old Trafford. Last year, Manchester United commissioned the architectural firm Populous and management consultants Legends International to develop plans for the renovation of the Theatre of Dreams. However, a completely new stadium might be the best solution.

Chris Lee, Managing Director of the architectural firm Populous, shares a similar view, having repeatedly highlighted issues with the current facility. The building is reaching the end of its natural life; wiring, electrical installation... everything is approaching the end of its useful life, he said in a December interview with the Daily Telegraph.

Old Trafford is currently the largest football stadium in England where league matches are played and it is capable of accommodating just over 74,000 spectators.