For Manchester United's facility venture, Sir Jim Ratcliffe is looking to raise money.
As part-owner of Manchester United, Sir Jim Ratcliffe is looking to raise money for the development project by selling the labeling right to Old Trafford or a new facility, according to The Athletic.
The team has discussions with Bank of America to try to get money for the project, which is said to be worth billion. United enthusiasts may also see their ticket prices go off “substantially”.
Although Arsenal and Manchester City, along with Emirates and Etihad, have both made significant wealth from naming rights contracts, the Red Devils have never before decided to sell their venue rights, which may cause conflict.
In the future, United may seem to sell the calling rights completely, according to reports. If Old Trafford is refurbished, nevertheless, an option could be to simpy companion with a product and keep the original brand.
The Athletic say that Ratcliffe's INEOS are likely to default in order to raise the necessary funds, and United fans may be especially cautious of the financial implications of any stadium changes.
“ What we can see so far is a really good case to refurbish Old Trafford, probably about £1billion in cost, ” Ratcliffe said in February. “You end up with a wonderful facility, it ’s perhaps an 80,000-90,000-seater.
Manchester United "needs a venue that fits one of the biggest leagues in the world," according to the statement. Old Trafford may have existed 20 years before, but it still does not. A more ambitious project on-site may serve as a catalyst for the regeneration of that Old Trafford place, according to a wider discussion with the area. "
Copyright Notice:
Datavictory copyrights this specification. No part of this specification may be reproduced in any form or means, without the prior written consent of Datavictory.
Link:
