Man United considers selling naming rights of Old Trafford
Manchester United officials are reportedly thinking about selling the naming rights to Old Trafford. The historic stadium was opened 114 years ago and is one of the most prominent soccer arenas in the world. United’s home has undergone a series of alterations over the years and currently accommodates 74,000 fans on game days. It is currently the largest stadium in the Premier League.
Despite Old Trafford’s significance, new minority owner Sir Jim Ratcliffe has been open about wanting changes to the arena. Almost immediately after completing the $1.65 billion investment, reports surfaced that the billionaire strived to turn the arena into a ‘Wembley of the north.’ Wembley is a massive 90,000-seat stadium in London, which is typically used by the England national team.
It remains unclear whether the club chooses to completely renovate Old Trafford or build a brand new stadium. Nevertheless, The Athletic is reporting that team officials have already held discussions with banks on how to fund the massive project. Fulfilling Ratcliffe’s plan regarding the arena will likely cost billions of dollars.
Rising debt has forced the club to consider unpopular decision
While the club has opted against commenting on the issue, the news outlet claims that Bank of America is one of the financial institutes involved in the talks. Potentially selling the naming rights to the famous arena would generate massive amounts of money. These funds would then go straight back into making the necessary stadium alterations.
Several big European clubs have chosen to sell the naming rights to their stadiums in recent years. Fellow English sides such as Arsenal and Manchester City currently have lucrative naming contracts with Middle Eastern airlines. German financial company Allianz also has similar deals with Bayern Munich, Juventus, and Minnesota United, among others.
Nevertheless, the move would certainly not go down well with a vast majority of Manchester United fans. Supporters of the club feel a great affection for Old Trafford and want the naming tradition to remain the same. Rising debt, however, could essentially force United’s hand on the issue.
The Red Devils recently revealed that they have around $825 million in debt, even after Ratcliffe’s investment. This particular figure also does not include money currently owed to other teams in player transfers. United has recorded a net spend of about $387 million in the transfer market since the summer of 2022.
United fans may also see another rise in ticket prices
Another way to ease these financial issues at the club could be to raise ticket prices. Team officials already announced a 5% increase in season tickets ahead of the 2024/25 campaign. The move comes after the team previously introduced a 5% ticketing increase before the 2022/24 season. Fans did not appreciate the decision.
Nevertheless, the club is reportedly now pondering an additional rise in ticket prices to help combat the rising costs of the stadium project. Overall, English fans already generally pay more money to watch Premier League matches compared to other top leagues. Ticket prices in Spain’s LaLiga and Italy’s Serie A are both typically cheaper than in England.
Billionaires charging club supporters more and more money each year is normally not a positive move. Not only could United officials sell the naming rights of the stadium and introduce another ticket price hike, but they could also use fan money to help fund the stadium renovations. United has not made a decision yet. Ratcliffe reportedly wants to use taxpayer money to rebuild Old Trafford.
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