Manchester United could be in debt of up to £ 1 billion as a result of the Old Trafford redevelopment plan.
CEO Richard Arnold’s admission to fans last week that he is struggling to find money to renovate the stadium opened the doors to American owners. “Manchester United»Take out a mortgage on land that the Mancunians have owned for 112 years.
Another option is to sell the rights to the stadium name – as Barcelona did recently with Camp Nou – but that would cause an uproar among the club’s most radical members. United, which were debt-free when the late Malcolm Glaser and his family made a leveraged buyout in 2005, are currently in the red for £ 500 million. And with the cost of rebuilding the Sir Bobby Charlton booth of around £ 300 million, the final bill to renovate the entire stadium and improve the club’s training facilities in Carrington would be huge. Numerous Legends International architects and management consultants have been commissioned to implement the project, which would increase capacity to 88,000. The ambitious structure is further complicated by the railway line that runs behind the main grandstand.
