Manchester United are powering ahead with plans to build a 100,000-seater stadium in the next five years.
Concept images of a 100,000-seater stadium were revealed back in March, with Manchester United opting for a new venue rather than refurbishing Old Trafford.
The stadium is expected to cost £2bn, but there are growing concerns about the funding as well as the projected timeline. After initially setting an opening date of 2030, recent reports suggest United’s stadium could be delayed a further year.
One option is for Ineos to strike a stadium naming rights deal to help fund the construction project, and as the biggest and best stadium in the country, Sir Jim Ratcliffe will hope for a very lucrative deal.
£375m Tottenham naming rights deal will interest Man United
United are at the very beginning of their stadium project, but one Premier League club that recently built and moved into a state-of-the-art venue was Tottenham.
Spurs spent £1bn on their 62,850-seater stadium, and are still paying back the debt from the project.
However, journalist Ben Jacobs reports that Tottenham are in advanced talks over a naming rights deal.
Tottenham are in talks with two companies and are close to signing a deal which will see their stadium re-named for a big fee.
The Telegraph reports that Spurs chairman Daniel Levy had previously hoped to secure a £375m naming rights deal – spread to £25m a year for 15 years.
If Ineos are looking to strike a similar deal in five years, the valuation of the Tottenham deal will be of great interest to the leadership at Old Trafford.
Man United told they could strike £300m naming rights deal
Old Trafford is at the heart of Manchester United, and moving into a new venue is already a controversial move. Giving the naming rights to a brand would prove even more controversial among the fanbase.
But Ratcliffe has made it very public that United are not in great financial health and the club has to figure out how a new stadium can be afforded – a naming rights deal will appeal.
As per The Athletic, stadium finance expert Michael Weaver claimed that United could strike a £300m naming rights deal over a 10-year span.
It certainly wouldn’t fund the entire project, but it would take a sizeable chunk out of the £2bn fee hanging over Ratcliffe’s head.
from United In Focus https://ift.tt/GYNlX1U