Gary Neville has said he would rename the iconic stadium
Manchester United will consult the club’s fan base before a decision is made to rename Old Trafford.
United are yet to rule out the controversial move, with “no options off the table” according to reports.
The decision to rename the legendary stadium comes in stark contrast to comments made by Sir Jim Ratcliffe last year upon acquiring his 28.8 per cent stake in the club calling Old Trafford sacrosanct and that sponsoring the ground would be off-limits.
Ratcliffe said: “That would be heresy. I would not change it. It’s always Old Trafford.”
The news has come as part-owner Sir Jim Ratcliffe looks to increase revenue in order to fund a future project concerning the stadium.
Meanwhile the renaming of the stadium could be accompanied by the increase in ticket prices.
Manchester United legend and pundit Gary Neville spoke out on the matter around renaming the stadium.
He said: “I would sell the naming rights at Old Trafford, if I was at Manchester United for £60m, £70m or £80m-a-year.
“On the understanding that all of the money generated – £800m over 10 years – would mean that the whole of the Stretford End would be £10 or £12 to get in and a proportion of those tickets would go to young people.
He added: “It’s the first time I’ve made that suggestion, but I’ve thought it for many, many years. You would consult with the fans – you’ve sold sponsorships in every other area of the club. Old Trafford is an iconic stadium in name. I’ll never change calling it Old Trafford.”
United have held talks with financial institutions such as the Bank of America in the search of more funding although it is unclear in what capacity this will be.
In a scenario that sees the club borrow money, it is uncertain whether Manchester United or Ratcliffe’s company, Ineos, will carry the burden of new debt.
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As revealed in the second quarter of the financial year, Manchester United’s total debt, excluding transfer fees owed, amounted to £653.3m.
Old Trafford has always held the same name through out its 114-year-old history, never selling its stadium naming rights.
Many stadiums outside of England have names synonymous with brands who sponsor the stadium, however, in England, this has been a contentious issue with the charm of an original name often associated with the historic stadiums
This said, the construction of new stadiums have seen naming rights being allocated to help fund or subsidise costs of construction like with Arsenal’s Emirates stadium.
Talk of a new stadium and now sponsoring rights comes as Sir Jim Ratcliffe sees a complete overhaul and renovation of Manchester United whose facilities have been left behind in another era.
Just two weeks ago the club announced the £50m revamp of its Carrington training centre.
Only time will tell what decisions the ownership of the world-famous club will make going forward.
