According to the Financial Times, the renovation of Old Trafford may be the main topic of interest for Manchester United’s suitors.
The Glazers first revealed they were looking into strategic options for the team in November of last year, including a possible sale. Since then, Raine Group Investments has been tasked with managing the process, but months have passed with no conclusion.
While other investors are prepared to settle for a minor role, Sheikh Jassim and Sir Jim Ratcliffe have launched numerous takeover approaches.
The Glazers haven’t made up their minds yet, but once the work is finished, it’s possible that Old Trafford’s renovation will take priority. The stadium has not changed much, and fans have expressed their worries over this.
Old Trafford requires immediate urgent rebuilding due to a leaky roof and flooded restrooms that have been brought to light through social media. United still brings in the most money from matches in the UK ($126 million), but their competitors are catching up to them.
For instance, Tottenham Hotspur earned €125 million during the most recent fiscal year. Hosting NFL events and competitions was responsible for 31% of that. In the meantime, Real Madrid will finish renovating the Santiago Bernabeu for €900 million.
The European champions have already agreed to a €360 million deal with Sixth Street, a US investment firm for hosting non-football events after the renovation is finished.
Therefore, United must update Old Trafford as quickly as possible, and it is asserted that the surrounding area offers great potential for real estate investment.
The club has large open spaces close to Salford Quays, allowing United to increase revenue by constructing leisure-related amenities.
The Glazers recruited architects for the renovation project last year, but the continuous takeover saga over the past five months has delayed planning.
The owners need to decide quickly. The amount of money to spend on players during the upcoming transfer window must also be made available to Erik Ten Hag.
