Sir Jim Ratcliffe, the co-owner of Manchester United, is facing criticism over his proposal to use hundreds of millions of pounds of public funds for the construction of a new stadium, which he envisions as the “world’s greatest stadium.” Despite holding an estimated fortune of about £12bn, Ratcliffe moved to tax-free Monaco in 2020 and is now advocating for government support to finance the stadium and the regeneration of the surrounding area.
Manchester United asserts that the project could contribute £7.3bn annually to the UK economy by 2039, although a significant portion of public funds is necessary to underpin the venture. Graham Stringer, a Labour MP and former leader of Manchester city council, has labeled the proposal as a “tax exile’s half-baked, misbegotten scheme,” arguing that the funds could be better used in other parts of Greater Manchester.
The proposed £2bn stadium, to be built near Old Trafford, would have a capacity of 100,000 and is billed as a destination comparable to Paris’ Eiffel Tower. While the project has garnered support from key figures like Andy Burnham, the Greater Manchester mayor, and Sebastian Coe, who chaired the Old Trafford regeneration taskforce, concerns remain about the extensive use of public funds. The regeneration of the area, part of Manchester’s Western Gateway growth zone, could also be eligible for public funding to stimulate private investment.
Critics argue that the majority of the economic benefits would come from the broader regeneration efforts rather than the stadium itself. The project’s success is contingent on a wide range of factors, including the relocation of an adjacent rail freight hub and contributions from the club to the local community. Despite the backlash, proponents suggest that the development could be a catalyst for significant job creation and urban renewal.
Source: https://www.theguardian.com/football/2025/mar/22/tax-exiles-half-baked-scheme-jim-ratcliffe-challenged-over-man-utd-plan-to-use-public-funds-for-2bn-stadium-project
