Sir Jim Ratcliffe hopes to turn Manchester United's Old Trafford into 'Wembley of the North'

British billionaire Sir Jim Ratcliffe hopes to turn Old Trafford into the Wembley of the North, reports have suggested.

Sir Ratcliffe is waiting for his stake in Manchester United to be confirmed, but has already started making plans for the club's ground and its future.

The billionaire's company, INEOS chemicals, will take 25% share of the club and will lead on all football matters.

SIr Dave Brailsford, INEOS' Sporting Director has already started an audit of the club and the way it operates.

But Sir Jim Ratclfiffe also hopes to invest in improvements in United's training ground at Carrington and the club's home ground.

According to the Daily Telegraph, the billionaire wants to turn Old Trafford into a Wembley-like venue to rival its counterpart in London.

It was also reported that Ratcliffe is considering lobbying the government for funding this project as part of its pledge to 'Level Up' the North.

As part of his agreement to invest in United, £237 million would be guaranteed for the stadium, but plans for a potential new stadium are estimated to cost around £2 billion and could take up to eight years.

INEOS believe fans would be open to it being near to Old Trafford, in the surrounding areas, but the redevelopment of Old Trafford is also on the table.

Expansion of the current stadium would cost at least £800 million. Talks between INEOS and local political figures are already underway.

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