Sir Jim Ratcliffe is reportedly considering breaking Manchester United tradition by potentially selling the Old Trafford naming rights.
The INEOS owner sealed a deal for a significant stake in the club back in December. He paid £1.3million and has already promised huge investment.
Ratcliffe is keen to improve the Red Devils' Old Trafford home and could look to generate fresh revenue with a sponsorship deal. As per The Athletic, the club are considering selling naming rights to the stadium - whether that be a refurbished Old Trafford or a new stadium entirely.
It is suggested that exploratory discussions have taken place with 'financial institutions' including the Bank of America regarding a deal. Any agreement would see the Red Devils sell the naming rights to their stadium for the first time.
It is suggested that should United stay at Old Trafford and simply renovate, then an associated partner could be brought on board. A similar deal is in place at Wembley with mobile phone network EE.
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If a new stadium is built, then total naming rights could be sold. The selling of naming rights is not the only attempt that Man United have made in an effort to increase their revenue. The club have already upped season ticket prices for next season by five per cent.
Prices could rise even further should a stadium project be approved. A task force for the regeneration of Old Trafford has already been named, with Gary Neville and Sebastian Coe members alongside Mayor of Greater Manchester Andy Burnham and Trafford Council CEO Sara Todd.
Sir Jim Ratcliffe wants a 'Wembley of the North' (Getty Images)Should Man United leave Old Trafford? Share your thoughts in the comments below
Ratcliffe has already underlined his desire to build a 'Wembley of the North' in the future. Speaking to Sky News, he said: "There's a very good case, in my view, for having a stadium of the North, which would serve the northern part of the country in that arena of football. If you look at the number of Champions League the North West has won, it's 10. London has won two.
"And yet everybody from the North has to get down to London to watch a big football match. And there should be one [a large stadium] in the North, in my view.
"But it's also important for the southern side of Manchester, you know, to regenerate. It's the sort of second capital of the country where the Industrial Revolution began.
"But if you have a regeneration project, you need a nucleus or a regeneration project and having that world-class stadium there, I think would provide the impetus to regenerate that region."
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