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Photo: Arne Müseler

British billionaire Jim Ratcliffe officially became the co-owner of Manchester United yesterday after paying 1.3 billion pounds for 25% of the club’s shares.

He will be in charge of the sports segment of the club, but according to the contract, he must invest another 245 million in reinforcements. In addition to all that, Ratcliffe plans to build a new stadium for which he has reportedly already allocated 2 billion pounds.

The reasons why he is considering such a move are practical because Old Trafford is in a terrible state. There is an option to renovate certain parts, but it is much more cost effective for everyone to build a new stadium. Old Trafford has been the home of Manchester United since 1910, it has been renovated several times over the years, but there are things that renovation cannot cover. If it decides to take this step, United will face losses in income from matches which last year amounted to 136 million pounds.

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