Man Utd seek funds to refurbish stadium, mull over selling Old Trafford naming rights …C0NTINUE READING HERE >>>
Manchester United are considering selling the naming rights to Old Trafford as part of a major refurbishment or potential new stadium project.
The Athletic reports that this move aims to boost revenues under the direction of part-owner Sir Jim Ratcliffe, who is exploring various funding options, including significant ticket price increases.
The club have reportedly initiated discussions with major financial institutions, including Bank of America, to secure the capital for the multi-billion-pound project.
Meanwhile, Old Trafford, a 114-year-old stadium, has never had its naming rights sold, although modern stadiumsf like Arsenal's Emirates Stadium and Manchester City's Etihad Stadium have embraced lucrative naming rights deals.
Ratcliffe battles with decision to sell Old Trafford naming rights – Getty image
While there is the possibility of retaining the name Old Trafford with an associated sponsor, there are fears that a change could also happen, which would be met with a negative reaction from the club's fans.
However, the good news is that building a new stadium might involve selling the naming rights entirely, which could generate tens of millions of pounds.
This is said to be part of Ratcliffe's vision to create a “Wembley of the North,” with estimated costs of £1 billion for refurbishment or £2 billion for a new stadium.
The Athletic added that increased ticket prices are also on the table, with United already implementing a five percent increase for the 2024/25 season, following a similar hike for 2022/23.
Further increases are being considered to help fund the stadium project and maintain competitive team revenues.
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