Ineos arrived at Manchester United in a whirlwind and have already accomplished many things at the club but their time at United might well be immortalised in the success or failure of one.
That project is Old Trafford, as years of Glazers’ apathy and ignorance have reduced the once great sporting institution to a barely functioning husk of itself.
Sir Jim Ratcliffe has made no secret of his ambition to bring the club to the modern century and a state-of-the-art stadium is the key to accomplishing that.
It seems like they have settled on what they want to do with their plans and they are ambitious, to say the least.
A 100,000 stadium and an inspiration
The manic demand for tickets to a United game are well-known. The club has a season ticket waiting list in the thousands and fans from outside the UK are willing to spend thousands to get into a single game.
As such, Old Trafford, despite being the largest in the Premier League in terms of capacity, is still not maximising its potential. Although some work has started on the stadium, the potential is limitless.
According to The Athletic, Ineos have drawn up plans to build a new 100,000-seater stadium, taking inspiration from LA County’s iconic SoFi stadium.
It is the stadium where United played Arsenal recently, credited with single-handedly changing the landscape of the county and its surrounding area.
Ineos are believed to be enamoured by the impact it has had and want to create something similar, where the stadium will be the crown jewel of an area that is effectively an entertainment hub.
The club feels that the stadium, expected to cost in the range of £2 billion and take up to six years to construct, is much better value for money than renovating Old Trafford.
The current stadium’s renovation could cost nearly £1 billion, also restricted by logistical and architectural challenges like the railway line and surrounding areas.
While the new structure is worked upon, the team can continue to play at Old Trafford, making sure there’s no loss of income from matchday which would have been the case if renovations had reduced the stadium’s capacity.
The Old Trafford regeneration task force is expected to arrive at a final decision on the “redevelopment vs new build” by December but the preference is increasingly becoming clear.
Stadiums as money-minting ventures
SoFi stadium in Inglewood is a good inspiration and the same has been repeated in football too, as can be seen in the case of Tottenham Hotspur Stadium and the new Santiago Bernabeu.
Stadiums are no longer places to hold matches, but they are effectively arenas to hold events throughout the calendar year.
Sir Jim Ratcliffe has often said he wants United’s stadium to be the “Wembley of the North”. Wembley hosts music concerts, boxing fights, and many more lucrative events that keep the money coming in without football matches as well.
Since Old Trafford is limited on what can be done with it due to its old construction, a new stadium is the best way to maximise its earning potential and enter a virtuous cycle of revenue and success.
Ultimately, if the venture succeeds, Ineos and Sir Jim Ratcliffe will be forever remembered as the people who got it done, a permanent place in history.
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