Sir Jim Ratcliffe has ruled out the construction of a new stadium, looking ahead to his expected purchase of a stake in Manchester United.
The British billionaire is on the cusp of purchasing a 25 per cent stake in the club and taking control of football operations.
Sources close to Sir Jim have revealed that the chairman and chief executive officer of the INEOS chemicals group, which he founded, Ratcliffe has ruled out a £1.5billion new home.
As part of his overhaul of the club, he will consider alternative plans to renovate and expand Old Trafford and improve facilities in and around the famous old ground.
Old Trafford was one of England’s most iconic stadiums but the roof has been leaking for years.
Its facilities are also outdated compared to Tottenham’s new home and Manchester City’s stadium.
Ratcliffe is set to pledge £245million to improve infrastructure at the club.
Despite the shortcomings at Old Trafford, Mail Sport has learned that the bulk of that cash is earmarked for a new training centre rather than for the stadium.
It is estimated that between £150m and £200m has been earmarked to modernise the Carrington training ground.
